Ethereum has wiped out seven years of gains, falling over 10% below its 2018 cycle peak of $1,450.The asset is now more than 70% down from its 2021 market cycle peak of $4,878, with majority of losses occurring in the past three months.Technical indicators suggest Ethereum may be approaching a bottom, with oversold conditions and dwindling supply on exchanges.The future of Ethereum depends on macroeconomic improvement, trade deals, and potential asset tokenization boosting demand for ETH.