ETH Slides Toward $2,200 Amid Rising Middle East Tensions 🔻🌍
Ethereum faced renewed selling pressure on Friday as geopolitical fears rattled global markets. With conflict concerns intensifying in the Middle East, ETH dropped 3% to $2,420, setting the stage for another red weekend.
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📉 Exchange Inflows Signal Selling Pressure
Friday alone saw 72,000 ETH moved to exchanges
Total inflow over the past four days hit 285,000 ETH
Unlike ETF flows, this signals active spot selling
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📊 Futures Market Reacts
ETH open interest surged by 720,000 ETH, according to Coinglass
Price dropped alongside rising OI — a likely sign of fresh short positions
Over the past 24 hours, $163M in ETH liquidations hit traders
$140.94M in long positions
$22.42M in shorts
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🔺 Symmetrical Triangle Tightens
ETH is now nearing the apex of a symmetrical triangle, after a failed breakout above $2,850 last week.
200-day SMA (top resistance) has capped growth since May
50-day EMA is offering lower support
Traders are watching closely for a decisive move.
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🔒 Underlying Demand Remains Strong
Despite the price dip, Binance Research’s Moulik Nagesh notes structural demand is holding firm.
Accumulation wallets (no sell history) added 5M ETH since June, per CryptoQuant
Staked ETH has reached an all-time high of 35.1M ETH, with over 500K staked this month alone
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🏛️ Geopolitics in Focus
Tensions escalated after White House Press Secretary Caroline Leavitt revealed that Trump will announce his Iran policy within two weeks — injecting more uncertainty into already fragile markets.
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⚠️ The Big Picture
ETH’s near-term outlook hinges on:
Breakout from the triangle pattern
Evolving geopolitical headlines
Whether demand from staking and accumulation can offset short-term selling
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