Ethereum Slumps Below $1,750 Zone Amid ETF Outflows and Weak Open Interest

Ethereum declined by 1.16% over the past 24 hours and 6.48% over the past seven days, trading near $1,672. The cryptocurrency is struggling to maintain levels above short-term resistance as it trades below the $1,750 zone.

Analyst Dan Crypto Trades noted that Ethereum has repeatedly failed to break above this level and needs to establish a higher low before attempting another move higher.

The latest move has kept Ethereum below the $1,750 zone, an area traders have been monitoring since the cryptocurrency's February low. The market could revisit the $1,500 area if it fails to recover and hold above $1,750.