Foreign media reports indicate that after ETH fell below $2,000, market expectations for further short-term declines have clearly intensified. The article cites market predictions, ETF fund flows, and price structures, suggesting that if the $1,700 level fails to hold, ETH may first test the $1,400 to $1,500 area before observing whether a significant rebound occurs.
Predictions are heating up.
The article by Decrypt cites trading data from its parent company's prediction market, Myriad, showing that traders are currently more inclined to believe that ETH will first fall to $1,500 before discussing the possibility of a rebound to $3,000. The article states that this bet probability has increased significantly since mid-May, reflecting a continued weakening of market sentiment.
The article also points out that ETH has underperformed Bitcoin in recent trading days. Besides macroeconomic pressures, personnel changes at the Ethereum Foundation, share reductions by some prominent supporters, and the Ethereum ETF experiencing net outflows for 15 consecutive trading days are also considered factors suppressing sentiment.
$1700 becomes the short-term focus
As described in the article, ETH continued its decline after falling below $2,000 on June 2nd, briefly dipping to around $1,814.9. The article argues that after breaching this psychological level, selling pressure intensified, and since its all-time high in August 2025, ETH remains in a downtrend with lower highs and lower lows.
The article identifies the area around $1700 as a key short-term level. If this level fails to attract buying interest in the coming trading days, there will be a lack of significant support below, and the next area to watch is likely to be the $1400-$1500 range. This range is largely consistent with the current market pricing direction.
ETF outflows suppress rebound
The article mentions that the Relative Strength Index (RSI) is around 34, which is close to the oversold zone but has not yet reached a typical oversold level. Regarding moving averages, the 50-day and 200-day moving averages are still above the current price, meaning that the upward resistance has not yet been eliminated, and the technical indicators have not yet given a clear reversal signal.
The article also lists conditions that the bulls might rely on, including weaker-than-expected US employment data, a clearer easing signal from the Federal Reserve, or a de-escalation of tensions in the Middle East. However, the article concludes that these triggers are not yet clear enough, and the continued net outflow from the Ethereum ETF indicates that institutional funds are still withdrawing from related exposures.
Additional information:The article also mentions that the Ethereum Foundation has confirmed that it will move forward with the Glamsterdam upgrade in the third quarter of 2026, with goals including increasing the gas cap and improving mainnet throughput, but this progress has not yet changed the current market pricing.
