Ethereum's price fell to its lowest level in 14 weeks this week, pressured by a combination of sluggish demand and persistent outflows from spot exchange-traded funds (ETFs). The $1,800 mark has emerged as a pivotal support, and its ability to hold is now a key focus for market participants.
$1,800 Support Under Intense Scrutiny
On-chain metrics show that spot Ethereum ETFs have registered net outflows for multiple consecutive sessions, signaling waning institutional appetite. The $1,800 level has acted as a short-term price anchor, and a breakdown below it could pave the way for deeper losses. Buying momentum remains thin and trading volumes are contracting, underscoring a prevailing wait-and-see sentiment.
The 14-week trough effectively wipes out most of the gains accumulated over the past three-plus months, putting the technical structure under severe strain. Traders are closely monitoring whether the $1,800 floor holds, as it will likely dictate the next directional move for ETH.