Ether is back under pressure tonight after a sixth straight trading day of net redemptions from US spot Ether ETFs and a wave of long liquidations.
The chart shows Ethereum’s last 48 hours by the hour, opening just under $2,700 and sliding steadily to a close of $2,569. Support sits at $2,564, while resistance is up at $2,719.
This is not a broad market panic, it is asset-specific. Ether’s price weakness reflects both institutional selling through ETF redemptions and continued leverage in the system, even as forced liquidations roll through. That combination keeps pressure on price because cash outflows and derivatives stress can deepen declines. Open interest remained elevated, suggesting the washout has not fully cleared positioning. Traders are also watching the near-term support level around $2,500.