Ethereum Price Dips Below $1,900 Amid Retail Activity Slump
Ethereum's price dropped below $1,900 on Friday, decreasing by over 2% in a sign of continued pressure on the market.
The decline in retail activity and leveraged trading suggests investors are reducing their exposure to Ethereum, but institutional demand remains strong with US spot Ethereum exchange-traded funds (ETFs) recording net inflows of $14.9 million on Thursday.
Ethereum's derivatives market has shown renewed momentum, but the perpetual futures funding rates have weakened this week, turning negative for the first time since late June.
The 100-day Exponential Moving Average (EMA) near $1,937 remains a key resistance level, and a daily candle close above it could pave the way for Ethereum to extend its rally towards the $2,108 and $2,107 resistance levels.