Ethereum’s recent decline below $1,810 has driven a cautious market sentiment as bearish pressures intensify across the crypto landscape. Data suggests investors are adopting a defensive approach. This trend is reflected in declining trading activity and consistent spot outflows. indicators such as RSI and MACD show weak momentum with no clear signs of reversal at this time. Ethereum’s price fell below the $1,810 mark recently, marking a shift in sentiment across the crypto market. Technical and on-chain data now indicate a more cautious stance among investors. Recent observations have highlighted a decrease in trading activity and consistent spot outflows. Additionally, indicators such as negative funding rates on major exchanges suggest that derivatives traders are opting for less risky long positions on ETH. Historical patterns show a strong correlation between Ethereum’s funding rates and subsequent price action. This supports the belief that current movements may be indicative of broader trends. Source: CryptoQuant 10/2023, the post ‘ETH History Lesson: SMA Crossovers Previously Signaled Major Price Shifts’ by Coin Edition.