ETH Price Plunges Below Key Moving Averages as Sellers Gain Upper Hand

The Ethereum price is currently below its seven-day moving average at $2,421.41, and sell volume on Binance futures is dominating with nearly 140% of buy volume.

This indicates that sellers are actively pressing their advantage while buyers step back. The 24-hour range shows bulls defending $2,383 on the lows but getting stopped cold at $2,477 on the highs.

Open interest climbed 2.89% during this decline, suggesting that either shorts are piling on with conviction or trapped longs are doubling down in denial.