Ether analysts predict another ‘selling wave’ as ETH struggles to overcome $1.7K
Exchange inflows, slumping demand and a 31% drop in Ether futures open interest may signal that another wave of selling could hit ETH.
Ether’s (ETH) exchange and derivatives data turned weaker over the past month. Binance recorded net inflows of 57,700 ETH, while futures open interest fell to a year-low of $10.3 billion from $15 billion, and the ratio of leveraged positions retreated sharply from their early June highs.
The combination of rising exchange supply, muted new participation, and declining futures activity has led ETH analysts to forecast another wave of selling pressure below $1,700.
ETH inflows on Binance outpace new demand