Ether is facing challenges in maintaining the $2,000 support, encountering its third unsuccessful attempt in the past 15 days to surpass the $2,100 mark. This decline in Ether’s performance coincides with a broader negative sentiment in the crypto market. In the realm of Ether exchange-traded products (ETPs), there has been only a modest $34 million inflow in the past week. Furthermore, the current 7-day average annualised yield of 4.2% on Ethereum staking is facing reduced attractiveness compared to the 5.25% return offered by traditional fixed-income assets. This discrepancy has resulted in a substantial $349 million outflow from Ethereum staking in the preceding week.
At the time of writing, ETH was trading at $2,013.
ETH after breaking the long held resistance of $1,750 surged up to $2,136. The asset faced resistance at its previous high of $2,146 and witnessed correction and the prices dropped to $1,904. ETH made a double ‘Doji’ at the recent low of $1,904 and rallied up to $2,133. However, the bulls again failed to break the previous high of $2,146 and the prices corrected to $1,985. ETH has a strong support zone from $1,950 to $1,900. If it holds and sustains above the support then we may expect the bulls to resume the up move. To further rally ETH needs to break, close and sustain above $2,150.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $1,750 | $1,950 | ETH | $2,150 | $2,400 |
