Ethereum Price Plunges Below $1,900 Amid Growing Bearish Sentiment

Ethereum's price dropped below $1,900 on Friday, but it remains above key short-term moving averages.

The 20-day and 50-day EMAs at $1,837 and $1,829 are currently supporting the price, while momentum indicators remain moderately positive.

Despite this, perpetual futures funding rates have weakened, turning negative for the first time since late June, indicating growing bearish positioning.

In contrast to retail investor sentiment, US spot Ethereum ETFs recorded $14.9 million in net inflows on Thursday, extending their winning streak to four consecutive trading sessions.