Analysis: Ethereum under pressure at $1,800 support level, ETF outflows and rising leverage increase downside risk

Odaily Planet Daily News After breaking below the key support level of $2,000, Ethereum continues its weak trend. Market analysts warn that short-term "downward pressure" still dominates, and traders are focusing on the defense of the $1,800–$1,750 support zone. CryptoQuant analyst PelinayPA pointed out that ETH's estimated leverage ratio remains relatively high at around 0.74, and the funding rate has been positive since April, indicating crowded longs, but prices continue to weaken; the RSI is around 31, close to oversold territory but has not yet formed an effective rebound signal. The U.S. spot Ethereum ETF has recorded net outflows for 13 consecutive trading days, totaling approximately $695 million, with a single-day maximum outflow of about $121 million, reflecting continued cooling in institutional allocation demand.

Currently, ETH maintains a weak structure against the backdrop of high leverage, crowded longs, and persistent ETF outflows. Short-term risks are biased to the downside, and the $1,800 support level has become a key observation point for market sentiment and technical analysis. (Cointelegraph)