#EthereumFuture
Ethereum Price Overview:
Ethereum Faces Risk of Falling to $1000 Amid Selling Pressure from DeFi Liquidations
Today's Ethereum Price
Short-term Ethereum holders led the recent selling activity, incurring losses of over $500 million on Monday.
Increased DeFi liquidations could accelerate Ethereum's decline and lead to further liquidations.
Ethereum could drop to $1000 if it breaks below the support level of the descending channel.
Ethereum (ETH) suffered a collapse of over 27% in the past 48 hours, briefly falling to a two-year low of $1410 before recovering to the $1500 level on Monday. According to Coinglass data, the decline triggered $257.87 million in liquidations in the Ethereum derivatives market during this period.
On-chain data also shows that most investors are capitulating, resulting in realized losses for Ethereum exceeding $500 million, according to Santiment. Most recent selling activity comes from coins that were purchased last month, highlighting the strong reaction of short-term holders to bearish price movements.
Furthermore, coins aged between one to two years are joining the sell-off but at a moderate pace.
