Ethereum Faces Heavy Sell-Off Amid Rising Geopolitical Tensions

Ethereum saw a sharp price drop today, falling by over 10% as fears of wider conflict in the Middle East unsettled global markets.

The dip follows an Israeli airstrike on Friday, which has heightened concerns among investors and triggered widespread risk aversion.

Blockchain analytics point to a spike in bearish sentiment surrounding ETH. The number of traders taking short positions in the futures market has grown significantly, signaling that many expect further losses.

According to Coinglass data, Ethereum’s long/short ratio has fallen to 0.86, showing a clear tilt toward bearish bets. A ratio below 1 typically indicates that a majority of market participants are wagering on a continued decline in price.

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Momentum indicators further support the negative outlook. Ethereum’s Balance of Power (BoP) has turned sharply negative, registering a value of -0.69. This suggests that sellers are dominating and that buying demand remains weak.

Currently, ETH is trading just above a key support level near $2,424. If downward pressure continues, the next likely target could be in the $2,027 range. However, if sentiment improves and buying interest picks up, Ethereum might recover and test resistance around $2,745.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.