Ethereum [ETH] has recently faced significant volatility, trading within a descending channel after peaking at $2.8K just a week ago. As of 2025-06-21 15:03:00, ETH dipped to a low of $2.3K, indicating a surge in selling pressure that has rattled investors globally.
- Ethereum traded within a descending channel.
- Selling pressure spiked to $321M in one minute.
- Large holders showed negative netflow of ETH.
- Buyers absorbed selling pressure, hinting bullishness.
- Key resistance at $2575 for bullish momentum.
- Potential dip to $2350 if sellers dominate.
This decline was fueled by intensified profit-booking, leading many holders to offload their assets. The resulting trading patterns reveal a lack of conviction among investors, raising questions about the future of Ethereum in the global market.
The recent spike in Ethereum’s selling pressure raises an important question: Is this a temporary setback or a sign of deeper market issues? Analysts point to several factors influencing global sentiment:
- Whales offloaded 519K ETH while buyers acquired 471K, indicating a negative netflow.
- A surge in Taker Sell Volume reached over $321 million in just one minute.
- Exchange inflows from whales suggest a panic-driven market environment.
- Despite the downturn, some buyers are stepping in, indicating potential support levels.
As Ethereum navigates this turbulent phase, market participants should remain vigilant. Will the bulls regain control, or will selling pressure prevail? Keeping an eye on key price levels will be crucial for future trading decisions.
