Ethereum’s price has experienced moderate declines over the past week, dropping around 5% after a period of notable gains in previous months. At the time of writing, ETH is trading near $3,633, fluctuating between the $3,500 and $3,700 range over the past day.
This price movement follows a broader market cooling, with many traders engaging in profit-taking after Ethereum’s earlier upward trend. Recent on-chain and derivatives market data suggest that Ethereum may be heading into a consolidation phase.
Derivatives Market Data Signals Selling Pressure
CryptoQuant analyst Darkfost shared an outlook indicating increased selling pressure and potential short-term weakness in the ETH futures market.
The analyst highlighted that despite several attempts to breach the
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