Ethereum’s New Lifetime Record Carries Bearish Undertones, Puts $1,800 Back in Focus
Despite a new derivatives record, Ethereum faces bearish signals from leverage ratios, price structure, and momentum divergence, potentially leading to a retest of $1,800.Summary
Ethereum’s price is exhibiting concerning signals despite reaching a new lifetime high in the derivatives market. A record leverage ratio, coupled with a head-and-shoulders pattern and hidden bearish divergence on the RSI, suggests weakening momentum. While open interest is rising, funding rates indicate easing short pressure alongside increasing long positions, creating volatility risk. The current price structure, with an upward-sloping neckline, makes predicting a breakdown challenging, but the $1,800 level is now a key downside objective if support fails. A move above $2,080 would weaken the bearish pattern, while a breakout above $2,200 would invalidate it entirely. Overall, the combination of factors points to potential vulnerability for a deeper correction in Ethereum’s price.
(Source：BeInCrypto)