Ethereum stuck within a 10-month bearish trend, buyer conviction is still lacking

1alt HD: Traders Eye Sub-$1,300 Ethereum Targets if Bitcoin Slumps Below $60,000

Sidelined Stablecoins Wait on Binance While Ethereum Reserves Plunge to New Lows

Ethereum Braced for Explosive Volatility as OnChain and Technical Signals Clash

The Glamsterdam Ethereum [$ETH] is set to be rolled out in Q3 of 2026, reported AMBCrypto. The upgrade’s focus will be on processing transactions, allowing handling multiple transactions simultaneously while also updating the fee rules to support higher network capacity.

Improved speed, capacity, and efficiency will be a great outcome for one of the largest Layer 1 networks in crypto, but it might have little immediate impact on prices.

Ethereum was attracting institutional buyers, but the market-wide selling has not eased significantly.

Sidelined dry powder could supercharge an Ethereum recovery

Posting on CryptoQuant Insights, analyst CryptoOnChain drew attention to the rising stablecoin net inflows to Binance. At the same time, $ETH has been flowing out of exchanges, leading to falling reserves.

Rising stablecoin deposits on exchanges represented buying power waiting on the sidelines. The negative 7-day net transfer volume agreed with the $ETH flow out of exchanges.

However, the Coinbase Premium was falling in recent weeks, showing U.S.-based investors were not yet willing to bet on a price recovery.

These metrics set up the conditions for sharp price volatility in either direction. Another sell-off might be necessary before smart money chooses to stop waiting and enter with sizeable capital.

Dissecting the conflicting Ethereum signals

The weekly Ethereum chart exhibited a bullish swing structure. Crucially, the 78.6% retracement level at $2,147 has been breached. The internal structure was bearish, and the sellers have been in control for nearly 10 months.

They did not seem likely to relinquish their grip on the markets anytime soon. The 1-day chart has a bearish structure and had fallen below the February lows earlier this month. This breakdown signaled a bearish continuation.

Technically, a bounce to the key retracement levels at $2.1k and $2.26k is possible, but unlikely if Bitcoin [BTC] slumps below $60k once again.

Therefore, traders and investors can anticipate a move toward the southward extension level at $1,278 next.

Final Summary

• The Ethereum exchange outflows represented accumulation, and stablecoin supplies were climbing. Investors were waiting for the right moment to buy.
• That right moment might not be anytime soon. The Coinbase Premium Index and the price trends both showed sellers were in control for now.