Ethereum Price is in a Downward Trend, What Does Ryan Watkins Think?

Ethereum's price of $1,865.66 has fallen below the $1,900 level, attracting attention as the overall market is in a downward trend. Technical indicators and fundamental data reveal that uncertainties exist in the crypto market.

According to current data, Ethereum is trading at approximately $1,828. There is no clear upward recovery signal observed in the charts. In the short-term price movement, the risk of testing lower levels continues. Over the last day, the price of Ethereum has dropped by about 4%, and on a seven-day basis, it has decreased by 8%. A decline of around 3% has been recorded in the total value of the global crypto market, and this may increase Ethereum's risk factors. The new lows seen in the ETHBTC pair have also led to greater losses against the dollar. Amid concerns over tariffs, investors are reducing their risks. Ryan Watkins states that the Ethereum network has fallen behind its competitors in terms of innovation. When evaluating market dynamics, the failure to adequately assess the momentum created in previous periods is criticized. Ryan Watkins: “A product that is technologically lagging will lose market share.” Additionally, the increase in fund transfers to other blockchain platforms raises questions about Ethereum's competitiveness. The advantages provided by alternatives like Solana and Bitcoin at $82,812.19 may lead investors to distance themselves from Ether. Expectations for the Pectra upgrade do not significantly revive hopes, and since a recovery in risk appetite is not expected in the short term, ETH may see new lows. Evaluating different analyses and market dynamics may require investors to make more cautious decisions. Considering the current economic environment and technical data, it is believed that uncertainties regarding the future may continue.