Ethereum's price fell over 4.5 percent in the last 24 hours to around $2,380 due to technical, macroeconomic, and market structure factors.
ETH plunged below a key support zone at $2,530, triggering over $200 million in long liquidations and dropping from approximately PKR 704,396 to PKR 679,782.
Institutional demand for ETH exposure has decreased, with negative funding rates in derivatives markets. Speculative participation and bearish sentiment have also decreased.
The current pullback in Ethereum's price is seen as a buying opportunity by many analysts, with technical patterns suggesting further support and potential recovery factors including network fortification and institutional inflows.