Ethereum (ETH) attempted an intraday rebound but failed to defend its highs, resuming its downward trend. With losses widening from the opening price, the day is shaping up to close with selling volume outweighing buying.

As of the 24th, based on the Binance spot market, Ethereum is currently trading at 1,878.47 USDT. The 24-hour opening price was 1,921.93 USDT, and during the session it rose to as high as 1,938.22 USDT, trading above the opening price. However, it subsequently fell to 1,867.96 USDT, recording an intraday range of approximately 70.26 USDT (3.6%) between the high and low.

The current price is slightly above the intraday low but remains 43.46 USDT below the opening price. The decline from the opening price stands at approximately 2.26%.

The 24-hour trading volume was recorded at 222,741 ETH, with a trading value of approximately 424 million USDT. The average execution price, calculated by dividing the trading value by the volume, is estimated at around 1,904 USDT. This is lower than the opening price (1,921.93 USDT) but higher than the current price (1,878.47 USDT).

The fact that the average execution price settled between the opening and current prices, closer to the opening price, suggests that buying sentiment was present early in the session before being overwhelmed by selling pressure toward the latter half. However, no specific catalyst for this trend has been identified, and further investigation is needed.

Taking into account that the price was pushed below the opening price after hitting the intraday high, and that the drop from the high was larger than the drop from the low, it can be concluded that selling pressure dominated over buying pressure for the day.

Nevertheless, the 24-hour fluctuation range itself was under 4%, which cannot be considered a sharp decline. It is more accurate to interpret this as movement within the 1,870–1,940 USDT range at this time.

Going forward, it will be necessary to monitor whether the price can break back above the 1,920–1,940 USDT range that acted as resistance, and whether support holds near the 1,860–1,870 USDT range. However, this is an observation derived solely from the presented price data and does not serve as a definitive basis for future direction.

[This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell. Cryptocurrency assets carry high price volatility and the risk of principal loss. All investment decisions and their consequences are the sole responsibility of the investor. AI assisted with portions of this article.]