Ethereum is undergoing a strong downtrend, with the recent price hitting a significant support level of $1.5K. Although this level is expected to hold, if broken, the price could drop sharply to $1K.

- **Technical Analysis:** The strong downtrend of ETH paused at the support area of $1.5K, an important psychological pivot point. Although there was a slight recovery due to buying pressure, selling pressure remains dominant, which may lead to a retest of the $1.5K level.

- **On-chain Analysis:** The declining funding rate indicates that sellers are opening short positions. However, buying activity near the $1.5K level has created a recovery. If this trend continues, ETH could reverse strongly. Conversely, selling pressure could push the price lower.

🔍 Next week will determine the next big move of Ethereum. 📉