Ether analysts predict another ‘selling wave’ as ETH struggles to overcome $1.7K
Cointelegraph 2026-06-19 00:26:39
Context: Ether, also known as ETH, is struggling to overcome the $1,700 mark, with analysts predicting another wave of selling pressure. The cryptocurrency's exchange and derivatives data have weakened over the past month, with significant inflows into Binance and a decline in futures open interest. This has led analysts to forecast a potential selling wave below $1,700.
Key Facts
- Ether's exchange inflows have increased, with 57,700 ETH flowing into Binance on a net basis over the past few days, which often signals potential selling since Binance is one of the most liquid exchanges in the crypto market.
- The number of new ETH depositors is around 320 addresses, which is well below the levels seen during previous demand surges, suggesting limited new capital entering the market.
- Ether futures open interest has fallen to $10.3 billion from $15 billion, a decline of roughly 31%, marking the lowest aggregate open interest across exchanges since April 2025.
- The estimated leverage ratio for all exchanges has dropped to 0.83 from an all-time high of 1.10 on June 2, marking its largest leverage unwind since October 2025.
- Daily ETH issuance stands near 2,791 ETH, a relatively low figure since Ethereum’s EIP-1559 upgrade in 2021, which provides a counterbalance to the selling pressure.