ETH/USD

Ether continues to trade as a higher-beta expression of the Bitcoin tape rather than on its own catalysts. The pair has spent three weeks inside a $1,780–$1,920 band, and every attempt to break the upper edge has faded on thinning spot volume — a classic sign that the move is being led by perpetual futures rather than real accumulation.

Staking outflows have cooled and gas fees remain low, so the network story is quiet but not deteriorating. Our model reads the setup as range-bound: constructive over three months if $1,780 holds, but the twelve-month figure stays negative because the long-dated funding curve is still pricing a broad risk-off environment for altcoins.