Foreign media report that after ETH fell below $2,000, market expectations for further short-term declines have significantly increased. The article cites prediction markets, ETF fund flows, and price structure, suggesting that if the $1,700 level fails to hold, ETH may first test the $1,400 to $1,500 range before assessing whether a meaningful rebound emerges.
Betting on prediction markets is heating up
Decrypt noted that trading data from Myriad, its parent company’s prediction market, shows that traders currently believe ETH is more likely to drop to $1,500 before any potential rebound to $3,000. The article stated that this betting probability has risen significantly since mid-May, reflecting a continued weakening in market sentiment.
The article also notes that ETH has underperformed Bitcoin over the past several trading days. In addition to macroeconomic pressures, factors such as personnel changes at the Ethereum Foundation, reductions in holdings by some prominent supporters, and 15 consecutive days of net outflows from Ethereum ETFs have been seen as dampening sentiment.
$1,700 is the short-term focus.
As described in the article, ETH continued to decline after breaking below $2,000 on June 2, dipping intraday to approximately $1,814.90. The article suggests that, following the breach of this psychological level, selling pressure intensified, and ETH remains in a downtrend characterized by lower highs and lower lows since its all-time high in August 2025.
The text identifies the area around $1,700 as a key short-term zone. If this level fails to attract buying pressure over the next few trading days, there will be little visible support below, and the next closely watched area may be around $1,400 to $1,500. This range aligns broadly with the current pricing direction in the prediction market.
ETF outflows are suppressing the rebound.
The article notes that the Relative Strength Index (RSI) is approximately 34, which is near the oversold zone but has not yet entered the typical oversold level. Regarding the moving averages, both the 50-day and 200-day moving averages remain above the current price, indicating that upward resistance has not yet been overcome, and the technical outlook has not yet provided a clear reversal signal.
The article also lists conditions that bulls might rely on, such as weaker-than-expected U.S. employment data, clearer signals of monetary easing from the Federal Reserve, or a de-escalation in the Middle East situation. However, the article concludes that none of these triggering factors are currently clear, and the continued net outflows from Ethereum ETFs indicate that institutional capital is still withdrawing from related exposures.
Additional information: The article also notes that the Ethereum Foundation has confirmed it will advance the Glamsterdam upgrade in the third quarter of 2026, with goals including increasing the gas limit and enhancing mainnet throughput; however, this development has not yet impacted current market pricing.