[Analyst: ETH Still Faces Downward Pressure, $1,800 as Key Support Level] BlockBeats News, May 29 – Analysts have stated that Ethereum (ETH) continues to face short-term downward pressure, with the market closely monitoring the $1,800-$1,750 support zone. According to CryptoQuant analysts, ETH's current leverage ratio remains high, and funding rates are persistently positive, indicating that long positions still dominate the market. However, prices continue to hit new lows, revealing a fragile market structure. Meanwhile, Binance's cumulative net active trading volume has dropped to approximately -$744 million, reflecting that sellers still hold the upper hand in the market. On the institutional demand side, U.S. spot Ethereum ETFs have seen net outflows for 13 consecutive trading days, with a total outflow of approximately $695 million, signaling a continued cooling of institutional demand. Analyst Suraj Jha noted that the $1,700-$1,800 range is a noteworthy buying zone, but if this support level is breached, ETH may extend its downward trend further. Analyst Crypto Patel believes that ETH must hold the $1,750 level to maintain a long-term bullish outlook; if this level is broken, the next area of focus will be in the $1,400-$1,500 range. [Original Link]