Ethereum Drops 2.11% to $2,069 Amid Institutional Sell-Off

Ethereum's price has dipped below the $2,100 mark, currently trading at $2,069, reflecting a 2.11% decrease over the past 24 hours. This decline is part of a broader downward trend that has seen Ethereum lose 23.37% of its value over the past 30 days. The cryptocurrency has been struggling to overcome long-term resistance levels, and a monthly close below $2,100 could indicate further downside risks.

The recent price action mirrors the broader market sentiment, with institutional investors reducing their holdings, which has increased the downside risks for Ethereum. The cryptocurrency has been trading around $2,100, down 47% from its peak, and has underperformed other assets in the market. This downward trend has been exacerbated by a 5.5% decline in the past 24 hours and nearly 20% over the past week.

Technical analysts have identified key support zones around $2,050–$2,100, which have historically acted as a floor during corrections. If Ethereum falls further, the next critical support level is likely around $2,000. A breach below this level could indicate a more significant bearish trend and potentially trigger further selling. On the upside, the immediate resistance lies between $2,200 and $2,250. If Ethereum manages to break through this primary resistance, the next barrier appears near $2,400.

Ethereum has been consolidating within a defined trading range recently, indicating market indecision. Recent daily candlestick formations have shown a mix of bearish signals, such as shooting stars and doji patterns, especially near the top of the consolidation range, reflecting selling pressure. However, bullish engulfing patterns have also been spotted near key support levels, hinting that buyers are beginning to step in during dips.

A breakout above the primary resistance range of $2,200–$2,250 would be a strong bullish signal, suggesting that buying momentum could accelerate and drive Ethereum toward the secondary resistance near $2,400. Conversely, failure to break resistance may result in continued consolidation or further declines. If Ethereum manages to hold its support around $2,050–$2