Ether extends slide as second leg pushes price to 2,313
Ether slid from a 2,446 open to a 2,313 low over the last twelve hours, extending the prior breakdown with a second, sharper leg down. The first six hours were a quiet grind near 2,420, then a 4.2M-ETH bar at 02:00 UTC drove price through 2,400 and 2,360 before settling near 2,353. Cumulative delta keeps printing fresh lows near -176k, so sellers still own the tape.
Full analysis
ETHUSDT Desk Read — the second shoe drops
Angle this run: the quiet grind that masked a reload. After the first flush into 2,400, Ether spent nearly six hours drifting sideways in a 2,407–2,434 range on thin, fading volume — the kind of tape that reads as exhaustion. It was not. Sellers used the calm to reload, and the 02:00 UTC bar printed 4.23M ETH in a single hour, the heaviest of the entire 24-hour window, driving price from 2,412 to a 2,313 wick. The tell is that CVD did not merely stall during the drift — it kept bleeding lower, so the "calm" was distribution, not absorption.
Twelve-hour candles (Binance, 60m)
| Window | Open | High | Low | Close | Net |
|---|---|---|---|---|---|
| Prior 12h | 2,506 | 2,516 | 2,415 | 2,436 | −70 |
| Last 12h | 2,446 | 2,452 | 2,313 | 2,353 | −93 |
The last twelve hours did not just continue the decline — they widened it. The low stretched from 2,415 to 2,313, taking out the prior session's floor by another 100 points, while the close (2,353) sits well below the prior close (2,436).
Last 6 hours — the reload and the flush
| Time (UTC) | Close | Volume (ETH) | Note |
|---|---|---|---|
| 21:00 | 2,419 | 688k | dead-cat drift |
| 22:00 | 2,418 | 281k | volume fades |
| 23:00 | 2,420 | 205k | quietest bar of window |
| 00:00 | 2,417 | 405k | range-bound |
| 01:00 | 2,412 | 410k | first crack |
| 02:00 | 2,379 | 4.23M | flush, low 2,313 |
| 03:00 | 2,353 | 1.03M | follow-through |
The six-hour window tells the whole story. Four straight hours of sub-500k volume pinned price near 2,420, then a single 4.23M-ETH bar at 02:00 did the damage. That is not organic selling — it is a liquidation cascade triggered once the 2,400 shelf finally caved.
Delta / CVD (15m, Binance)
CVD is making fresh session lows at −176k and still falling, with the 03:30 bar alone printing −25.8k delta. The lone positive delta at 03:45 (+498) is a rounding error against the prior bars — dip-buyers are present but have not yet arrested the bleed.
Session tone
Bearish and accelerating. The structure is a textbook two-leg decline: an initial flush into 2,400, a deceptive six-hour consolidation, then a second flush through 2,400 and 2,360. Until CVD flattens and price reclaims 2,400, the path of least resistance remains lower. The 2,313 low is the immediate reference; a close back above 2,400 is the first sign the cascade has exhausted itself.