š» Current Sentiment: Mostly Bearish Short-Term
In the past week, ETH has slid below key support levels ($2,400, $2,300) with technical indicatorsālike EMAs, Supertrend, MACDāpointing downward.
Futures markets are showing sustained sell pressure, with taker ratios below 1 and rising geopolitical tensions weighing on the market.
A flash crash on June 21 pushed ETH down ~7.5%, though buyers stepped in at the $2,250ā$2,290 zone.
š¤ Medium-Term: Neutral to Slightly Bullish
Whale accumulation remains strongāno major outflows in 2025āsuggesting confidence from big players.
Onāchain activity (addresses/users) is up, and trading volumes have spiked, reflecting ongoing interest.
Some bulls expect ETH to swing back toward $2,750ā$2,800 if it regains key resistance near $2,425.
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Soā¦ Is It Bullish or Bearish?
Short-term outlook: Bearish ā price is under pressure, below key thresholds, with sell-side momentum.
Medium-term outlook: Nuanced Bullish ā whales accumulating, technical bounce possible if certain levels are reclaimed.
š What to Watch
Support ā $2,230ā$2,250: calm buyer interest there may prevent further falls.
Resistance ā $2,425ā$2,480: a break above could flip the trend.
Volume & macro tone ā geopolitical news, futures flows, and institutional ETF interest remain key triggers.
š Summary (Short & Sweet)
Ethereum is currently bearish short-term, trading under major moving averages as bears dominate. However, whales are accumulating, and if ETH can climb back above ~$2,425, thereās potential for a bullish recovery toward ~$2,750ā$2,800.