Ethereum Price Prediction: Analyst Warns of Deeper Correction as ETH Sees Highest Long Liquidations Since June
Ethereum (ETH) dropped 5.67% to $2,555, testing support at the 100-week EMA. Analysts warn of a deeper correction if it closes below this level. Long liquidations hit a 4-month high at $201M. Ethereum ETFs saw $201M outflows, the highest since mid-September, while Bitcoin ETFs recorded inflows.
How this was made
The 30-second read
Why it matters
The liquidation surge and funding rate drop signal bearish momentum, but ETF outflows may also reflect shifting investor sentiment.
Market read
Ethereum's sharp move and liquidation levels are a key driver for crypto market sentiment today.
What to watch
Potential inflows into Bitcoin ETFs and macro‑economic data releases could provide support to the broader market.
Background
Ethereum's price decline follows a broader crypto market sell‑off, with significant ETF outflows and rising open interest.
Ticker impact
Ethereum dropped below $2,600 with $201M in long liquidations, the highest since June, indicating bearish pressure.
likely pressure as the market prices in continued selling and funding rate weakness
Liquidity data and funding rate indicate a strong bearish bias; price may test $2,400 if support fails.
Market effects
Crypto sector shows heightened risk as ETH liquidation spikes may spill over to other assets.
Global crypto markets react, with Bitcoin also falling below $84,000.
Broad crypto market stress could affect risk sentiment in related digital asset funds.
Counterpoint
If buying pressure returns quickly, ETH could rebound to $2,600‑$2,800, offering a short‑term buying opportunity.
Key entities
- cryptocurrencyEthereum
Leading blockchain platform experiencing price pressure.
- data providerCoinGlass
Source of liquidation data cited in the article.
