Ethereum's Bearish Structure Remains Intact Amid Modest Price Gains

Ethereum's price has been showing small signs of stability after a sharp sell-off, but the overall structure remains bearish. The current trading price is around $1,670 with a modest gain of just over 1% in 24 hours.

Crypto analyst Ted pointed out that Ethereum is still trading within a bear flag formation, which typically signals continued downside unless the price breaks free. A breakout above the $1,700 level is needed for a move towards $1,850-$1,900.

Nearly 500,000 ETH worth around $800 million were withdrawn from exchanges last week, which could be an early sign of accumulation. However, falling active addresses while price attempts recovery suggests the rebound lacks broad participation.