Ethereum Under Pressure: Is a Break Below $2,344 Possible?
Date: 2025-06-10 Author: Henry Casey Categories: CRYPTO PAYMENTS
The Ethereum market is showing instability: the ETH price is stuck in a sideways range, showing no significant growth or decline. At the moment, the cryptocurrency is trading around $2,485, which is slightly above the nearest support at $2,476. However, negative signals from large players and long-term investors may trigger a further decline.
Exchange data analytics indicate that a significant number of Ethereum tokens are returning to centralized platforms. Over the past few days, users have moved about 350,000 ETH to exchanges, which is equivalent to $870 million. This may indicate a desire to sell off assets and weak faith in market growth in the near future. Increased activity of large holders only strengthens this signal.
The situation is complicated by the behavior of long-term investors. The Coin Days Destroyed metric shows spikes in activity among holders who typically hold ETH. Their decisions to move and sell their assets may indicate a decline in confidence in the short-term stability of the coin. A mass exit of these participants could increase downward pressure and lead to increased volatility.
If the selling pressure does not subside, Ethereum is at risk of losing its current support level. A break below $2,344 would open the way to a decline all the way to $2,205, which would increase losses for investors and confirm the bearish sentiment in the market. Such a scenario could signal the beginning of a new phase of the downtrend or a prolonged period of stagnation.
However, an alternative scenario is also possible. If ETH holds above current support and sellers ease up on the pressure, this will create conditions for a short-term recovery. In this case, the price could test the $2,606 and $2,681 levels. Overcoming these marks will be an indicator of a positive reversal and could attract the attention of the bulls.
As the Ethereum market remains uncertain, investors should closely monitor volume dynamics and the behavior of major players. These factors will be decisive in the coming days.
