🛑 Why is Ethereum ($ETH) Price Falling Today? 📉

Ethereum’s price recovery is losing momentum as sideways trading keeps the altcoin stuck below key resistance levels. Despite attempts by bulls and notable whale activity, bearish pressure continues to dominate the market.

At the time of writing, Ethereum is trading around $1,803, down 1.34% in the last 24 hours. This marks the second price dip in a single day, even as trading volume surged 12% to $10.52 billion, signaling increased volatility.

Earlier, ETH slid from $1,840 down to $1,785, briefly bounced back, only to face another sharp drop. According to Coinglass, over $37.45 million in leveraged positions were liquidated, primarily long positions, as traders betting on a price surge were caught off guard by the pullback. Open interest is also declining, pointing to traders closing positions under pressure.

Adding to the cautious sentiment, Ethereum co-founder Vitalik Buterin raised concerns about the security of Layer-2 solutions, creating further uncertainty in the market. Despite short-term turbulence, analysts maintain a positive long-term outlook for ETH.

Stay tuned for more updates! This article is part of my journey on Binance Square’s Write to Earn program — follow me for daily crypto insights and market analysis.

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