Price Analysis View Non-AMP

Will Ethereum Price Hold the Line at $2,400 or Sink Deeper?

Published by
Shrishesh Tanksalkar

The crypto market has hit rough waters, triggering widespread sell-offs and massive liquidations. According to CoinGlass, the business saw $458.61 million liquidated in the past 24 hours alone. Ethereum was the hardest hit, accounting for $170.78 million in liquidations, out of which $157.03 million from long positions and $13.75 million from shorts. This highlights growing uncertainty and volatility, leaving traders on the cliff and ETH’s short-term price unclear. However, this ETH price analysis is derived to clear all the mist.

Exchange Inflows Spike:

On-chain data from Santiment paints a bearish picture. ETH is flowing into centralized exchanges at an unusually high rate, far outpacing outflows. This surge typically signals that holders are preparing to sell, which aligns with the liquidation wave that just hit Ethereum. The magnitude of these inflows implies panic selling or aggressive profit-taking.

It is to take note that such behavioral shifts often come before further downward pressure unless reversed by strong buying interest. Until exchange inflows taper off, Ethereum’s price is likely to remain under intense selling pressure. This metric suggests a short-term bearish sentiment dominating the market, demanding caution from ETH bulls.

Ethereum (ETH) Price Analysis:

At the time of press, Ethereum is changing hands at $2,444.01, down 4.15% over the past 24 hours. However, the sharp 44.75% increase in trading volume to $20.99 billion indicates significant activity, likely driven by liquidation-triggered volatility.

From a technical standpoint, ETH’s RSI is at 40.29, hovering just above the oversold territory, which may suggest a short-term bounce. Supporting this, the 4-hour chart shows ETH rebounded off the lower Bollinger Band at $2,371, forming a bullish hammer-like candle, which signals buyer support at lower levels.

However, still, ETH remains under the 20-period SMA, reflecting bearish momentum. For a recovery, bulls must reclaim the $2,495 resistance. If this level fails to hold, ETH could again test the $2,400 support zone. 

Read our Ethereum (ETH) Price Prediction 2025, 2026-2030 for long-term targets!

FAQs

Why is Ethereum’s price dropping today?

Ethereum’s price dip is primarily driven by increased liquidations and heavy inflows to exchanges.

Is it a good time to buy ETH now?

Caution is advised to traders, while ETH shows signs of short-term buyer support, technicals remain bearish, and exchange inflows are high, hinting at more volatility ahead.

What price levels should traders watch?

Key support is at $2,400, while resistance lies near $2,495.

Shrishesh Tanksalkar

Shrishesh is a versatile writer with 2+ years of experience in cryptocurrencies. An engineer turned storyteller, this selective introvert is a wannabe biker on weekends.

Recent Posts

Crypto Whales Quietly Load Up On Remittix Ahead Of Three Key Exchange Announcements In Q4

Institutional investors are increasingly shifting their attention to Remittix, as whale activity accelerates in anticipation…

August 23, 2025

Top 5 Altcoins That Could Turn $2,000 into Millions by 2026

The potential growth opportunities in cryptocurrency particularly those that can disrupt the crypto market due…

August 23, 2025

Top Reasons XRP Could Hit $10 Sooner Than Expected

XRP appears ready for a strong upward move. Recent developments, like the coordinated XRP ETF…

August 23, 2025

ETC Price Breaks Out of Downtrend as Momentum Builds Toward $28

In the daily time frame, the ETC price has added around 14% today as the…

August 23, 2025

Coinpedia Digest: This Week’s Crypto News Highlights | 23rd August, 2025

It’s been another big week in crypto, with central banks, regulators, and markets all making…

August 23, 2025

Top Altcoins To Buy Now as Bitcoin Rotation Sparks Altseason

The cryptocurrency market is showing signs of rotation as Bitcoin cools after recent highs, with…

August 23, 2025