Ethereum Price at Risk of Further Decline Amid Rising Sell Pressure

Ethereum's price is currently hovering around $1,650 on CoinGecko, down 5% over the past week. However, on-chain data suggests that the bottom may still be roughly 30% lower from here.

Exchange net flows for ETH have been climbing steadily over the past two weeks, a pattern that typically reflects increasing sell pressure as holders move coins onto platforms to liquidate. US spot ETH ETFs recorded $82.3M in outflows on Tuesday alone, according to SoSoValue, and are on pace for seven consecutive weeks of net withdrawals if the trend holds through Friday.

The broader crypto market is showing a risk-off posture, but Ethereum's structural indicators carry a specific warning that spot traders should not ignore. ETH has already fallen more than 65% from its last cycle high, yet it still has not reached the Lower Band. That gap implies a potential further decline of roughly 30% from current prices if the historical pattern repeats.