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Ether traders said ETH price could see further downside after bulls failed to defend the $2,000 support as signs of declining demand were apparent.) drop below the $2,000 on Friday put it at risk of a deeper correction in the coming weeks or months.
Ether’s price shows structural weakness as it fails to hold above the $2,000 psychological support.Ether traders anticipate a deeper correctiona ETH could see a “further decline” toward the $1,800 support zone after the altcoin closed below $2,200 on Thursday.Ether’s apparent demand hits 16-month low Ether’s Apparent Demand has flipped negative after dropping to its lowest level since October 2024, as traders adopted a risk-off stance due to Capriole Investment’s Ethereum Apparent Demand metric shows that the demand for ETH has been negative since March 3, bottoming around -58,000 ETH on March 16, marking 16-month lows. The metric has since improved to -23,475 ETH at the time of writing. Meanwhile, spot ETH ETFs have recorded net outflows for seven consecutive days, totaling $391.8 million. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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