Ethereum (ETH) slid to a 14-week low near $1,800 on Wednesday as fading US demand and a long run of ETF outflows squeezed the token's last major support.
Key Points:
‣ Ethereum fell to a 14-week low near $1,800, its weakest level since late February. ‣ The daily RSI dropped to 25, the lowest reading since February 6. ‣ Spot Ethereum ETFs logged 16 straight days of net outflows.
Ethereum Price Tests $1,800 Floor
Ether traded as low as $1,814 on Wednesday, its weakest mark in more than 14 weeks and a level that leaves the token clinging to fragile support near $1,800. A clean break below that floor, which has held since the February sell-off, would put deeper losses in play and likely drag price toward the winter lows.
The move extended a decline that pushed Ether under $2,000 in late May, leaving the token roughly 22% beneath its May high near $2,450 and erasing most of the spring recovery.
The daily RSI fell to 25, its lowest since February 6 and well into oversold territory, while the MACD stayed below its signal line. Such readings sometimes precede a bounce, yet they often reflect persistent, one-sided selling that takes time to clear.
The broader chart has frayed for weeks, with momentum gauges flashing weakness across daily and weekly timeframes. Ether lost the $2,000 and $2,200 shelves earlier in the slide, and its main moving averages now stack overhead as layers of resistance the token last cleared in March.
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Trader Warnings And ETF Outflows
Analysts remain split on whether buyers can hold the line here. Ted Pillows warned that $1,800 stands as the last support before fresh lows, while others flag $1,600 as the next stop on a clean breakdown. A deeper failure could expose the $1,200 region, where wallets earlier absorbed more than 1.4 million tokens.
The fund flows look grimmer still, with spot Ethereum ETFs logging 16 straight days of net withdrawals, their longest losing run since March 2025 and close to $847 million pulled over the stretch. Global Ethereum funds shed another $257 million over the same week.
That exodus points to a clear lack of US appetite for the asset. The Coinbase premium against rival Binance slid to its lowest since February, dipping near -0.16 before a small recovery. A persistently negative reading signals that US sellers, not global buyers, are setting the pace.
Not everyone is heading for the exit, with BitMine, chaired by Tom Lee, buying nearly 111,942 tokens worth about $237 million in late May, its biggest single-week purchase of the year. Still, the slump caps a bruising month for Ether, down more than 20% from its peak as memories of a 39% February rebound keep some buyers hopeful.
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