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Ethereum’s Bearish Momentum: Is a Bigger Drop Coming for ETH?

  • Ethereum's bearish momentum continues as the price drops 11% to $2,098, breaching ascending support and resembling a double-top pattern.
  • Market sentiment shifted after Trump's tariff announcement, erasing earlier gains made by Ethereum due to the U.S. Crypto Strategic Reserve news.
  • 30,000 ETH was offloaded by whales as DeFi activity weakened, with declining futures open interest and stablecoin liquidity.
  • Analysts warn that for Ethereum to recover, it needs to regain support on a monthly closing basis and the market outlook and fundamentals remain poor.

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