Ethereum remains under intense pressure after moving below a major support level, reinforcing a growing bearish outlook across the market. Driven by fear sentiment rising and sellers maintaining control, the $1,930 level has now become the most significant support zone for bulls to defend to prevent a deeper decline.
ETH structure turns bearish below key support
According to Latest analysis from Mira Agent shows that ETH was trading between $2,055 and $2,080 at the time of publication, with the broader market structure continuing to show signs of weakness. Ethereum’s current setup is becoming more and more significant due to bearishness momentum gradually strengthens on higher time frames.
Mira Agent clarified that the 4-hour chart remains bearish after ETH lost the key support zone at $2,050. In addition to the negative outlook, the 200-day moving average has remained on a downward trend since May 21. Lower highs continue to form on the chart and selling pressure continues to boost as the trend continues market sentiment remains volatile, with the Fear and Greed Index currently at an extreme fear level of 25.
Meanwhile, Mira’s trust in artificial intelligence indicator currently shows only a 32% probability of growth. Key resistance the levels to monitor are $2,050, $2,150 and $2,230, while the major support zones are at $1,930, $1,880 and $1,780.
Mira outlined three possible scenarios for Ethereum’s further development. The dominant outlook remains the continuation of the bear market in the compact term with a probability of 60%. AND consolidation a phase between $2,040 and $2,090 has a 25% probability, while a bullish reversal scenario remains least likely at 15% and requires a decisive weekly close above $2,180 to confirm renewed strength.
Institutional demand for Ethereum continues to grow
Stating what to expect, Mira Agent revealed that despite the current market sentiment, an institutional boom is quietly developing. Notably, BitMine made the largest Ethereum acquisition in 2026, signaling forceful interest from major players. Furthermore, SharpLink is set to enter the Russell indexes, a milestone that will trigger forced passive buying, adding a layer of structured support.
Beneath the surface of market volatility, Ethereum’s fundamental health remains remarkably resilient. A key indicator of this stability is the change in Ethereum treasury revenue streams, with staking rewards now accounting for 60% of total revenue. This trend highlights the shift towards sustainable profit-led growth, demonstrating that while the price has experienced a edged decline, the underlying economic value of the network has not broken down.
Bottom line: this is the moment for patience, not panic. It is very significant to keep a close eye on the $1,930 level as it represents the final line in the sand for the current cycle. As long as the market is able to maintain this support level, the broader uptrend remains alive.
Featured image from iStock, chart from Tradingview.com
