swETH USD Price & Performance (SWETHUSD)

Ethereum's price has dropped over 11% in a 24-hour span, hitting lows of $1,755. This decline is tied to recession fears, bearish technical patterns, and a wave of liquidations. Long positions worth $196 million were wiped out, intensifying the sell-off. Analysts predict further downside, possibly testing $1,700 support levels.12

President Trump’s announcement of a U.S. Crypto Strategic Reserve has sparked significant interest. Ethereum and Bitcoin are central to this reserve, alongside XRP, Solana, and Cardano. This move has fueled optimism for regulatory clarity and institutional adoption, with Ethereum briefly rallying to $2,550 earlier this month.34

Ethereum's long-term prospects are gaining traction as whales accelerate their holdings. With just 6.38% of ETH supply on exchanges, analysts view this trend as reducing sell-off risks. This shift toward cold wallets signals confidence among large holders, despite recent market volatility impacting crypto prices broadly.56