Ethereum bearish trend intensifies amid geopolitical instability
Date: 2025-06-23 Author: Henry Casey Categories: CRYPTO PAYMENTS
On Friday, the Ethereum rate abruptly broke out of the previous narrow trading range and began a consistent decline, which, according to analysts, may continue next week. The price of the asset fell below $2,300 - this is the lowest value in the last month. The reason for this decline was the growing tension between the United States, Israel and Iran, which is putting pressure on the cryptocurrency market.
Amid what is happening on the market, the influence of "bears" - investors expecting a decrease in the value of the asset - has increased. According to the CryptoQuant service, the ratio of the number of buy orders to sell orders for Ethereum is 0.93, which indicates the predominance of sellers. This situation indicates an increase in sell-offs among futures traders and speaks of weakness in the bullish sentiment in the market.
Technical analysis confirms the downward trend: the ETH price is holding below the 20-day exponential moving average (EMA), which is currently at around $2,497 and acts as a strong resistance. This indicates a short-term bearish trend and makes it difficult for the market to quickly turn in favor of buyers.
The current price of Ethereum is hovering around $2,272, which is about 6% lower than the previous day. If selling pressure continues to increase on both the futures and spot markets, the next important support for the altcoin will be the $2,185 mark. If it is broken, the price may fall even further, approaching the $2,027 level.
On the other hand, with active intervention of buyers, Ethereum is able to recoup some of the losses and rise to $2,424. However, this will require a significant increase in demand and an improvement in market sentiment, which in the current conditions seems unlikely.
Thus, against the backdrop of the current geopolitical situation and technical factors, Ethereum is clearly bearish. Investors should closely monitor changes in the news background and trading dynamics, as the situation in the cryptocurrency market remains unstable and can change quickly.
