Ether Faces Potential 40% Decline Amid Weak Accumulation and ETF Outflows

Analyst Leshka.eth has warned that Ether could experience a significant drop of 40% to $1,200 in the coming weeks if it fails to maintain the $1,990 support level. According to NS3.AI, Glassnode data indicates a lack of strong accumulation among major Ether holders, contributing to the bearish outlook. Additionally, U.S. spot Ether ETFs have recorded approximately $300 million in net outflows during the same period, further exacerbating concerns about Ether's market stability.