The ETH/USDT perpetual futures on Binance are currently trading at $2,534.40, marking a sharp -6.73% drop for the day. Within the past 24 hours, Ethereum's price has fluctuated between a low of $2,497.00 and a high of $2,733.00, with a total trading volume of 8.46 million ETH or approximately $21.98 billion USDT. The current price is hovering around the MA(7) of $2,530.22, below the MA(25) of $2,598.22, and slightly under the MA(99) of $2,574.30, indicating a short-term bearish trend. The RSI value stands at 40.73, suggesting that ETH is approaching oversold conditions but not yet at extreme levels. Despite the heavy sell-off today, Ethereum has shown a strong 30-day gain of 41.44%, though it remains negative over the 90-day and 180-day periods at -8.61% and -23.69%, respectively. On a yearly basis, ETH is still down by -33.28%, reflecting broader long-term weakness. Overall, ETH/USDT perpetual futures are currently under pressure, but signs of possible reversal may emerge if key support levels hold.
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