ETH Slides Below Volume Nodes As Traders Eye $1,385 Support

Woofun AI reports that Ethereum remains under sustained selling pressure after failing to hold above major volume profile levels, a technical structure analyzed by Alex Marzell on X. The market is currently focused on whether long-term support can withstand renewed bearish momentum amidst elevated derivatives activity. Marzell’s analysis highlights a trading range that has remained structurally unchanged for more than two years, suggesting that ETH could eventually breach the critical $1,385 support level.

The fixed-range volume profile reveals several key technical reference points that define the current market structure. The Value Area High has remained anchored near $3,677 throughout the observed period, while the Point of Control sits around $2,629. Another pivotal level is established at the $2,162 Value Area Low. Ethereum continues to trade below this long-established boundary, a position that keeps the broader technical structure under significant pressure. Remaining beneath this level indicates that buyers have yet to regain control of the primary value zone.

Recent price action reflects this structural weakness, with the asset dropping by 1.31% over the past 24 hours, despite a modest rise of 3.46% over the last week. The chart illustrates Ethereum’s previous advance toward nearly $4,900, a rally that later transitioned into an extended corrective trend. Lower highs developed throughout this prolonged decline, with repeated recovery attempts failing near the $2,600-$2,800 resistance region. Those rejections prevented Ethereum from reclaiming the Point of Control, allowing sellers to maintain dominance over higher-volume trading areas.

Marzell identifies $1,385 as the next major support reference, arguing that the level remains increasingly vulnerable given continued weakness below established value zones. Immediate support appears around the $1,750-$1,800 region, and losing that area could shift focus toward lower technical levels. Conversely, reclaiming $2,162 would restore Ethereum inside the historical value range, potentially altering the bearish trajectory. The analyst’s assessment hinges on whether the asset can stabilize above these critical thresholds or succumb to further downside pressure.

Per Woofun AI, derivatives market data shows Ethereum participation remaining active across leading exchanges despite the weaker technical structure. Binance leads open interest with approximately $6.62 billion, while MEXC, Gate, and CME also report substantial outstanding futures positions. Trading volume presents a different market ranking, with OKX leading at nearly $9.72 billion in ETH volume. Binance and Coinbase follow with strong liquidity levels. Bybit records the highest futures trade count, executing more than 5.38 million trades, while Gate and Binance complete the top three positions in volume metrics.

The derivatives data reflects broad participation across multiple venues, indicating that high liquidity remains available even as Ethereum trades below key volume nodes. Traders continue to monitor whether the asset can recover higher-value zones or extend its longer-term decline. This dynamic underscores the tension between technical weakness and persistent market engagement. As Ethereum navigates this critical juncture, the outcome will likely determine the next phase of its price discovery process.