Svmuu News: 10x Research posted on X stating that Ethereum is currently at the $1,600 support level; if this support is breached, the next target is $1,200, which has been the range of price fluctuations since the FTX collapse. Ethereum(ETH-USDT) is trading below the 7-day moving average, indicating a bearish trend; it is also below the 30-day moving average, indicating a bearish trend, with a weekly decline of 7.4%. Ethereum A massive restructuring was carried out, resulting in 20% layoffs, which triggered a sharp price drop. Warnings of a funding crisis following the expiration of key developer incentive programs further dampened market sentiment.
Spot Ethereum ETFs continue to see net outflows, and weak institutional demand is severely limiting upward momentum in the market. On-chain data shows asset accumulation at multi-year lows and a rising transaction failure rate, indicating cooling network demand. News flow has been relatively light this week, and macro headwinds—including the Federal Reserve’s hawkish stance, a strengthening U.S. dollar, and stock market volatility—remain the primary drivers of price movements.