Ethereum lost 1.77% in 24 hours, with trading volume down 6% and Open Interest declining by 3.2%. Long liquidations reached approximately $67 million since July 22, putting downward pressure on the market. The funding rate remains positive but declining, dropping from +0.0088% to +0.0054% since early July, signaling cooling demand. However, whale accumulation and zero validator queue waiting time suggest long-term investor conviction. Technically, the daily chart structure remains firmly bearish, with support at $1,742 and a target of $1,510 in case of a new downward move.
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