Ethereum Trades Below Realized Price as Exchange Inflows Rise

Ethereum has extended its recent decline, slipping toward the $2,000 level. The token is trading below its Realized Price, a condition that often signals widespread unrealized losses, and the MVRV ratio remains under 1.0, indicating the average holder is at a loss.

On-balance exchange data shows about 445,000 ETH moved onto trading platforms over the past week, representing more than $887 million in potential sell pressure. Rising exchange balances typically reflect distribution as investors transfer assets to sell, and the scale of recent inflows suggests heightened caution that could prompt panic selling if the price fails to rebound.

ETH is trading at $1,997, with $2,000 a key psychological threshold. The $1,866 level is the next notable support based on the CBD Heatmap; a loss of that zone would open downside risk toward $1,385, roughly a 30% decline from current levels, with further support near $1,231.

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