$ETH Update

Ethereum Price Forecast: ETH risks a decline to $1,000 amid selling pressure from DeFi liquidations

Ethereum price today:

Ethereum short-term holders have spearheaded the recent selling activity, realizing over $500 million in losses on Monday.

Rising DeFi liquidations could accelerate ETH's decline and potentially set off more liquidations.

ETH could decline to $1,000 if it breaches the lower boundary of a descending channel.

Ethereum (ETH) suffered a more than 27% crash within the past 48 hours, briefly dropping to a two-year low of $1,410 before recovering the $1,500 level on Monday. The decline, per Coinglass data, sparked $257.87 million in liquidations across ETH's derivatives market during the period.