$ETH
The price of Ethereum (ETH) is under increasing pressure after failing again to stabilize above the $3,000 level, amid clear indicators of declining demand from the U.S. market and a slowdown in trading activity, which amplifies concerns over the continuation of weak performance in the near term.
According to trading data, Ethereum was trading at $2,930 at the time of this report, recording a daily increase of 1.9%, yet it remains down about 7% over the week, and nearly 40% compared to its historical peak of $4,946 recorded in August of last year. Over the past seven days, the price has moved within a range between $2,801.87 and $3,125.89, with repeated failures to break the $3,000 barrier that continues to play a strong psychological resistance role.
In the spot market, data showed a decline in momentum, as the daily trading volume of Ethereum dropped by 6% to $28.44 billion, indicating a decrease in investor appetite during recent upward attempts.
As for the derivatives market, data from the CoinGlass platform revealed a notable divergence in indicators; total trading volume decreased by 8% to $56 billion, while open interest rose by 3.6% to reach $38 billion. This scene reflects the entry of new positions into the market despite declining liquidity, indicating a rising conviction in the current trend.