The Ethereum price has been in a downtrend for the past few months and has yet to show any signs of recovery. In the last 24 hours, ETH has fallen to a monthly low of $2,300 📉. Technical analysis suggests that the price is likely to fall towards the $2,100 support area. The RSI indicates that the momentum is bearish.

In the futures market, negative funding rates indicate a bearish trend in the short term. However, these rates can often be one of the first signs of a market recovery. Whether spot buying pressure is sufficient will be the determining factor.