Ethereum Faces Strong Selling Pressure as $2,000 Remains Elusive

Ethereum is struggling to hold its ground as intense selling pressure pushes the price further from the critical $2,000 mark. The surge in trading volume suggests that more traders are offloading ETH, reinforcing bearish momentum despite minor recoveries. A consistent spike in volume during a downtrend often signals strong seller conviction, making reversals difficult.

ETH's price action shows clear resistance at the 50-day and 100-day EMAs, preventing any sustainable upward movement. Every brief rebound has been met with renewed selling, further weakening bullish attempts. Without a decisive move above these resistance levels, any short-term recovery could be short-lived.

The $2,000 threshold remains a key psychological level for Ethereum. If ETH fails to reclaim this mark, it may slide further toward $1,800 or lower. Market sentiment is largely cautious, with buyers hesitant to step in until a more definitive bottom is established.

For ETH to break out of its downward cycle, a shift in market sentiment is necessary. Until then, the strong selling pressure keeps Ethereum on a bearish trajectory.