Ethereum’s correction appears to be speeding up, as the price moves towards the key $1,900 support level and futures sentiment hits the most bearish reading in three months.
Summary
- The price of Ethereum is under pressure at all times, the structure is still upside down.
- Futures traders are becoming more defensive, as aggressive selling begins to dominate exits.
- The $1,900 level now stands as key support; holding it may stabilize the price, while resting it may accelerate losses.
At press time, Ethereum was changing hands at $1,958, marking a 6.4% drop over the past 24 hours as it continues to sell off the price drag. Over the past week, the coin has fluctuated between $1,907 and $2,129, but remains under pressure at all major moments.
Over the past seven days, Ethereum (ETH) has fallen 6.3%. The loss deepens when you zoom out. It was down 40% last month and 27% compared to last year, which shows how strong and persistent this correction has been.
Trading activity in the property market picked up as prices fell. During the sale, the 24-hour volume jumped 34% to reach $ 31 billion, suggesting that many sellers entered while the price was testing important support levels.
Derivatives, on the other hand, tell a more cautious story, pointing to a market that is always on edge. According to CoinGlass data, the volume of derivatives increased by 18% to $40 billion while open interest decreased by 7% to $23 billion. This combination suggests that traders are closing positions in volatility rather than adding new capacity.
Futures sentiment is highly volatile
Additional pressure comes from the long-term sentiment of derivatives. The February 15 analysis of CryptoQuant contributor CryptoOnchain revealed a significant change in future behavior on Binance. The Ethereum Taker Buy/Sell Ratio (30-day moving average) fell to 0.97, its lowest reading since November 2025.
If this ratio falls below 1.00, it indicates that sell orders are exceeding aggressive buys. Using a 30-day moving average helps filter daily fluctuations, turning this into a structural signal rather than a short-term reaction.
At current levels, the data shows that futures traders have been leaning on the sell side for several weeks, either hedging their exposure or taking a defensive stance as prices weaken.
If spot market demand cannot absorb supply close to support, this persistent imbalance raises the possibility of longer consolidation or further losses, but does not guarantee that prices will continue to fall immediately.
Technical analysis of Ethereum price
Ethereum still seems to be in a downward trend. Since late December, there have been lower and lower increases continuously, suggesting that the correction is still in progress. Sellers continue to dominate the market, as shown by the price remaining below the 20-day moving average.
Volatility has risen sharply. The recent drop pushed ETH closer to the lower Bollinger band around $1,600, with the bands widening, a classic sign of a strong directional move. Despite a small recovery from that extreme, the price is still trading near the lower half of the range, suggesting that selling pressure has eased but not yet subsided.
An important psychological and technical level is now $1,900. It corresponds to a previous consolidation area where buyers have tried to stabilize prices. If Ethereum breaks below this level for sure, it could drop to $1,600–$1,650, near the lower end of the recent volatility range.
Pressure readings are always weak. The relative strength indicator is sitting around 32-33, recently brushing close to the oversold area. Such levels sometimes start short-term rallies, but no bullish breakouts have emerged. Throughout the correction, the RSI failed to climb back above 50, keeping the momentum entirely in the bearish camp.
For the bulls to regain control, a daily hold above $1,900 and an RSI pullback to the 40–45 range will be required. If $1,900 fails, downside risk remains high.
A move to $1,600, and possibly lower, would be consistent with both the current technical formation and bearish swings in future sentiment.
