Why is Ether Weak? Stagnation at 2,400 Dollar Level, Decreasing Leverage Demand

ETH is weak at the level of 2,400 dollars with a weekly decline of about 4%. This level is pushing bulls to test historical resistance.

In contrast, the total cryptocurrency market capitalization showed an increase of 1%. This raises questions about expectations for Ethereum's rally above 4,000 dollars.

Leveraged Long Positions Are Being Withdrawn, Funding Turned Negative

Demand for leveraged long positions in the Ether derivatives market has weakened. Due to short selling pressure, the funding rate has now turned negative.

This indicates that the bullish momentum has weakened in the near term and puts Ethereum’s 3,000 dollar target at risk.

Price Reaction Remained Limited Despite ETF Inflows

Demand for ETFs has remained active at the level of 322 million dollars over the past two weeks. However, no increase has been observed that would reflect this institutional interest in the price.

The SEC is evaluating innovations such as 'in-kind creation' and local staking reserves in ETFs. James Seyffart from Bloomberg indicates that he expects the SEC decision to come at the end of August.

Options and Delta Skew: Bulls Have Not Taken Action

According to the delta skew analysis, the options market is currently neutral, ranging from -5% to +5%. This means that whales do not want to hedge against 'correction risk' regarding price directives.

Two weeks ago, this rate was -7%, so it is maintaining its stability. This indicates that the 'bullish trend has not been lost' in a negatively volatile environment.

Confidence Against Power: Ethereum's Fundamentals Are Strong, But Optimism Is Lacking

Ethereum supporters advocate factors such as 'modular architecture,' 'always the deepest liquidity levels,' and 'proven security' like X community users.

In contrast, ETH is still trading around 50% below its all-time high. While interest in leveraged instruments is decreasing, stronger signals are needed to expect a parabolic rise in the near term.

Conclusion: Stagnation at 2,400 Dollars Will Directly Test Reaction RSI

Ether is currently in a technically uncertain area. Investor confidence has not fully returned.

The negative trend in the funding rate indicates that leveraged positions are decreasing; however, the neutral outlook in the options market emphasizes that there is no full bearish pressure.

A drop below 2,400 dollars could signal divergence, while the leading crypto needs market continuity to see 3,000 dollars.

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