Ethereum price struggles below $1,900 as DeFi metrics weaken

Ethereum Price is still trying to recover the bar of $ 1,900 as weak deffi metrics and increased competition weighs on its price.

Due to the decrease in liquidity and the participation of investors, the total value of the network increased from $ 63 billion in January to $ 44 billion in February, according to Defillama data. Stablecoin entries have slowed down, indicating a slower capital rotation in Ethereum (Ethn) Protocols.

Data also shows that decentralized exchange trading volumes are decreasing, from $ 92 billion in December to $ 82 billion in February. Like other chains such as hyperliquid (THRESHING) and Solana (GROUND) Recording increasing perpetual -term negotiation volumes, term negotiations on Ethereum suffered from $ 31 billion in December to $ 18 billion in February.

Ethereum’s revenues took a major success, from $ 193 million in December to only $ 26 million in February. The drop in transaction costs and a low network activity caused a sharp drop.

In addition, according to Sosovalue dataThe Ether Spot Ether experienced withdrawals for four consecutive weeks, totaling $ 176 million in last month. This trend shows that the institutional demand of Ethereum has reduced.

Ethereum is currently negotiating at $ 1,876, finds it difficult to maintain the crucial level of support of $ 1,875. With the ETH constantly negotiating below its 50 -day mobile average of $ 2,282.50, the daily graph shows a clear down trend, strengthening the bearish momentum.

Bollinger bands show greater volatility. Ethereum embraces the lower strip, suggesting surveillance conditions. At 34.51, the relative resistance index is close to the threshold of 30, showing poor purchase pressure, but the possibility of a rescue gathering should require an increase.

The low volume of trading indicates poor market participation. The ETH can evolve towards $ 1,800 if it breaks down below $ 1,875; While reversal would face resistance at $ 2,282. Ethereum must recover its 50 -day mobile average to see a bullish change, but the price movement is always under pressure.

An important development to keep an eye is the push to include the milestone in the ether ether. CBOE BZX A laid A request for American regulators to allow the implementation of Fidelity’s ETHE ETF, following a similar request of 21Shares in February. If they are approved, investors could gain approximately 3.3% in mandate awards, which could arouse more institutional interest.