Ethereum’s price took a heavy hit, plunging to $2,671 after losing 5.63% in just one trading session. This sharp fall brings ETH to its weakest point in months, setting off alarm bells among traders and investors. The crypto market is showing clear signs of struggle as buyers find it tough to push prices up again. The key support levels to watch right now are $2,852 and $2,945. If prices slip below these points, Ethereum could slide even further to $2,700 or $2,550. The technical charts paint a gloomy picture with Ethereum making lower highs, meaning every price bounce meets strong resistance. Recent rallies tried to cross the $3,017 and $3,373 marks but got blocked each time. The Supertrend indicator is flashing a bearish signal, indicating short-term recovery chances are slim. Traders see prices squeezing tightly together, which often means a big price move could happen soon. Adding fuel to the fire, Ethereum’s spot market is losing coins fast. On Friday alone, there was a massive $223.73 million net outflow, with some days even topping $200 million. This steady withdrawal shows buyers are losing faith and rushing to cash out. Weak buying power near $2,743 has kept the price trapped and falling. But there’s a twist! The derivatives market tells a slightly different story. Open interest, meaning the total value of active futures and options, soared from $15 billion to over $35 billion. This means many traders are betting hard on Ethereum’s next move, creating a split between cautious spot investors and bold speculators. Beyond the daily price drama, long-term risks loom large. Big institutions now control over 10% of the ETH supply, which could make the market more fragile. Plus, advances in quantum computing might force Ethereum to rethink its security plans sooner than expected. These factors create extra pressure, shaking investor confidence. Ethereum’s next big hurdle is to hold above $2,852–$2,945 support. Breaking back above $3,017 could bring some relief and might open doors to highs near $3,637 and $3,851. But failure to hold these levels risks confirming a deeper drop, exposing prices to $2,700 and even $2,550. If global economic pressures and weak network use continue, ETH may fall further, testing lower zones around $2,000 to $2,400. The technical signals are clear: ETH is trading below major moving averages, with bearish MACD signals and RSI deep in oversold levels, pointing to more downward pressure. The entire crypto world feels the chill, as Bitcoin and other tokens also hit multi-month lows, causing big liquidations. Ethereum and Bitcoin ETFs saw net outflows, though some companies are still buying ETH for their treasuries. Despite this, many holders face big unrealized losses. So, is Ethereum facing a long dry spell? For now, prices are struggling to bounce amid fading interest and rising speculator bets. Traders must watch those critical support zones closely—one false move could bring wild swings. Buckle up, crypto fans — Ethereum’s road ahead looks like a thrilling roller coaster!