Analysts: Ethereum faces downside risks or will fall 20% to $1,700

Several analysts pointed out that Ethereum faces downside risks, and ETH may fall another 20% to the US$1,700 range. The increase in trading platform positions and the decline in ETF demand are the main sources of pressure. CryptoQuant analyst BorisD pointed out that between May 5 and 9, ETH reserves on Binance surged from 3.36 million to 3.84 million, and the price fell 7% from $2,390 to $2,260 over the same period. He said: "This shows that liquidity is being absorbed and distributed at the same time. The overall structure still points to downside risks dominating." Another analyst, Pelinay PA, shared the same judgment, arguing that any short-term rebound would be "accompanied by high volatility followed by a continuation of a broader downtrend", adding: "A large amount of ETH continues to flow into trading platforms, creating significant resistance to price upside." Net ETH inflows from trading platforms surged to 585,000, the largest single-day inflow since December 2025-ETH prices were about US$3,000 at that time, and then fell to US$1,750 in February this year, a drop of 42%. Such large inflows usually mean that large companies are shipping. At the same time, demand for spot Ethereum ETF continued to weaken, recording net outflows for four consecutive days, with a cumulative outflow reaching US$190 million. Technically, the ETH daily chart shows that the rising wedge pattern has fallen below the lower-track support level of US$2,280. If the daily closing price confirms to break below, the target will point to the wedge target of US$1,725, down 22% from the current price and consistent with the macro low of February 6 this year. Analyst Shango Trades said the break was "starting to be worrying." Looking at the longer cycle, analyst CryptoBullGod pointed out that the ETH weekly bear-flag pattern has a target of US$1,280.