ETH dealer sentiment simply reached its most bearish stage because the 2023 bear market, reported CryptoQuant analyst ‘Darkfost’ on Tuesday. The metric has been measured utilizing the Binance taker purchase/promote ratio, which has fallen again to ranges not seen since September 2023, when ETH had fallen to $1,600.
“This highlights how a lot dealer sentiment towards Ethereum has deteriorated over latest weeks.”
Bearish Calls Mounting Up
The weekly ratio has fallen to 0.91, which suggests sellers are dominating Binance futures order books. “In different phrases, aggressive promote orders are considerably outweighing patrons,” they mentioned.
Ether has traded in a broad vary for the previous 5 years, nevertheless it stays weak on the decrease bounds of this vary regardless of strong fundamentals, which isn’t a wholesome signal.
“Though these conditions stay tough to anticipate exactly, a market positioned too closely in a single path can typically create the circumstances for a pointy transfer towards consensus.”
Analyst ‘Daan’ noticed on Wednesday that ETH had returned to a significant help/resistance stage “after messy value motion the previous month.”
“This stage, similar to $2.8K, has confirmed very actionable and essential for ETH over the previous few years,” he mentioned. Dropping this stage might ship Ether again beneath $2,000 once more.
$ETH After messy value motion the previous month, it’s now again on the main $2.1K help/resistance stage.
This stage, similar to $2.8K, has confirmed very actionable and essential for ETH over the previous few years.
Positively an space to take a look at intently. A bounce & larger low right here… pic.twitter.com/fRlAnmkT7V
— Daan Crypto Trades (@DaanCrypto) Might 19, 2026
“Ethereum is retesting its rising trendline help whereas momentum indicators proceed printing weak spot,” mentioned dealer Kamaran Asghar.
“The construction continues to be holding for now, however sellers are gaining stress. If ETH loses this stage cleanly, an even bigger transfer down might observe quick.”
Macro dealer Rafaela Rigo remained extremely bearish, telling her 164,000 X followers, “I’m nonetheless extremely anticipating ETH to succeed in $800 throughout this bear market,” calling for a significant market reset.
ETH Value Outlook
The outlook isn’t fairly with Ether dropping 8% over the previous seven days, and falling to an intraday and six-week low slightly below $2,100 in late buying and selling on Tuesday.
There was no try at restoration regardless of constructive information from the US, because the Senate superior a invoice to probably finish the battle in Iran.
$2,000 is the following help zone, and it’s painfully apparent what occurs if that stage breaks. Its earlier low on Feb. 6 was simply above $1,800.
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