Ethereum Faces Strongest Selling Pressure in 18 Months, Drops Below Key Support

Ethereum (ETH) has faced its most intense selling pressure in 18 months, plunging to $2,428 after a 2.53% daily decline. The surge in trading volume signals potential further downside, echoing a similar market correction in August 2025. ETH's price has broken a key upward trendline, slipping below critical support levels and struggling to stay above $2,400.

Technical indicators show a bearish outlook, with ETH trading below the 200-day EMA, a strong resistance level. The Relative Strength Index (RSI) has dipped to 34, approaching oversold territory, suggesting a short-term relief bounce is possible. However, the overall trend remains weak. If ETH fails to hold $2,400, it could test the next major support between $2,200 and $2,100. A drop below $2,000 would confirm a prolonged downtrend, increasing the risk of further losses.

To shift momentum back in favor of bulls, Ethereum would need to reclaim $2,750, signaling renewed buying interest. A breakout above $3,000 and the 200-day EMA would mark a significant trend reversal. However, with persistent selling pressure, ETH faces a challenging path to recovery unless buyers step in soon.