ETHZilla Launches Tokenized Air Cargo on Ethereum – What it Means for ETH Price
Ethereum is trading around $1,937, down about 1% on the day, as the market consolidates following a sharp selloff in early February.
Summary
- Ethereum is trading near $1,937, closing below the key $2,000 level after a sharp sell-off in early February, and the broader trend remains bearish on the daily chart.
- ETHZilla has launched the first aircraft asset with a tradable token in Ethereum, backed by jet engines leased by a major US airline, expanding the real world network asset (RWA) footprint.
- Technical indicators show ETH below its 50-day SMA near $2,799, with support at $1,900 and $1,800, while resistance stands at $2,000 and $2,200.
The price action comes as ETHZilla announced the launch of tokenized air assets for the first time on the Ethereum (ETH) network, highlighting the growing role of blockchain in real-world asset (RWA) tokens.
ETHZilla brings aviation goods to the chain
ETHZilla has unveiled the Eurus Aero Token I, a tokenized aviation product backed by jet engines currently leased by a leading US airline. The asset provides partial exposure to revenue generating aircraft engines and is issued from the Ethereum infrastructure.
The product is aimed at accredited investors and aims to provide returns through rental income. By sending assets to Ethereum, ETHZilla uses the power of the network’s smart contract for transparency, automatic distribution and on-chain verification.
The move adds to the growing trend of institutions using Ethereum as a platform to settle real-world asset tokens.
Ethereum price action: Bearish structure remains
According to TradingView’s daily chart, Ethereum remains in a clear short-term decline.
ETH is trading below its 50-day Simple Moving Average (SMA), currently positioned near $2,799, indicating that broader momentum remains in place.
The chart shows a series of low highs and lows since mid-January, with a major breakdown occurring in early February that pushed the price below the $2,400 and $2,200 levels.
A sharp line towards the $1,800 area marked the latest decline before buyers moved in. However, the retracement has been low, and the price is now covering just below the psychological level of $2,000.
The Chaikin Money Flow indicator remains around -0.04, hovering close to neutral but slightly negative. This suggests that capital inflows have not yet returned, reinforcing cautious sentiments.
Current support is near $1,900, followed by a recent low around $1,800. A break below that area would reveal further downside near the $1,700 mid-range.
On the other hand, ETH is facing initial resistance near $2,000, with strong resistance around $2,200. A sustained move above those levels would be needed to challenge the downside of the 50-day SMA near $2,800.
