Ether fell below $2,000 on Friday, and traders cited that move as a sign that ETH could face more downside. The source says bulls failed to defend the $2,000 support level and that demand for Ether remained negative.
What happened
According to the source, ETH was trading at $1,975, down 5% over the last 24 hours. The drop below the $2,000 psychological support level was described as a sign of structural weakness for Ether’s price.
Key details
The source says analysts see a possible move toward the $1,750 to $1,850 support zone. It also says the decline came with more than $111 million in long ETH liquidations.
Earlier in the week, ETH/USD had failed to break through resistance at $2,200. The source links that stalled recovery to spot Ether ETF outflows, falling DEX volumes, and a declining ETH futures premium.
Why traders are watching it
The source says Ether’s drop below $2,000 increases the risk of a deeper correction in the coming weeks or months. It also says signs of declining demand have added to the downside case described by traders and analysts.