- Ethereum continues respecting a year-long descending trendline, keeping lower highs intact across multiple weekly rejection attempts.
- ETH futures remain active as elevated open interest and liquidation events reflect persistent leveraged positioning across major exchanges.
- Traders continue watching support and resistance as bearish momentum challenges recovery attempts across the broader altcoin market.
Ethereum price outlook remains under close observation as persistent selling pressure, repeated trendline rejections, and active futures positioning continue shaping short-term market expectations.
Weekly Trendline Continues Defining Market Direction
A recent post from Mister Crypto shifted attention away from Bitcoin. The analysis argued Ethereum offers clearer market direction. The chart focused on a year-long descending resistance line.
The weekly chart displayed four major trendline rejections. The first test came with resistance at $4600. In the first test, resistance was seen near $4,600. Later failures developed around $3,300, $2,400, and $1,850.
Every rejection has resulted in a weekly lower high. Buyers repeatedly failed, regaining long-term momentum. Sellers continued defending the descending resistance with consistency.
The report stated Ethereum has not reclaimed this trendline once. That technical structure remains unchanged today. Every recovery continues facing heavy overhead resistance.
Short-Term Weakness Keeps Sellers in Control
At the time of the writing of this article, Ethereum is at $1,832 with a 4.67% daily drop. Price lost support near the $1,915-$1,920 region. During the trading session selling pressure increased.
The market later attempted several recovery moves. Those rebounds failed below nearby resistance levels. Lower highs continued forming across the intraday structure.
Then immediate support was established at $1,860-$1,865 before the area of weakening. Resistance now stands around $1,880 and $1,900. A larger volume is needed for buyers to get back to those levels.
Orderly trading with high activity reported. During the sell-off, trading volume was more than $12.5 billion on a daily basis. The volume-to-market-cap ratio is unchanged from the previous week and close to 5.67%.
Futures Activity Reflects Ongoing Market Caution
ETH perpetual futures continued recording alternating liquidation events. Large long liquidations appeared during major market declines. Similar liquidation clusters returned during late May and early June.
Ethereum’s broader trend remained lower despite periodic liquidation-driven rebounds. Recovery attempts repeatedly lost momentum after temporary advances. That pattern kept longer-term selling pressure intact.
Exchange statistics showed Gate leading open interest with approximately $6.33 billion. Binance followed with roughly $2.49 billion in open interest. CME ranked next with approximately $2.11 billion.
Binance also recorded the largest ETH futures trading volume and trade count. Elevated participation reflected continued leveraged positioning across derivatives markets. Traders now monitor whether expanding open interest eventually supports sustained price stabilization.
