Analysts predict a new wave of selling could hit Ether (ETH) as it struggles to pass $1,700. Factors like increased exchange inflows, lower demand, and a drop in futures interest signal potential downward pressure for the cryptocurrency.
Ether (ETH) is currently facing challenges, with experts suggesting a new selling trend might be on the horizon. The cryptocurrency is struggling to climb past the $1,700 mark. Several indicators point to this potential downward pressure. For example, more Ether is moving onto crypto exchanges, which often means people are preparing to sell. At the same time, demand for Ether appears to be decreasing. Furthermore, the total value of open Ether futures contracts, which are agreements to buy or sell Ether at a future date, has significantly dropped by 31%, suggesting reduced market confidence.
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