Ethereum has fallen by 13% in the past week, marking its lowest point since December 2023 at 1,997 USD. With current trading below the Ichimoku Cloud, resistance levels are seen around 2,346 USD and 2,742 USD. The bearish momentum intensifies as 50% of ETH holders are experiencing losses, a significant decrease from the year’s beginning.

If selling persists, ETH may breach the crucial 2,000 USD support, potentially dropping to 1,924 USD as indicated by Fibonacci analysis. Conversely, a positive market sentiment may push ETH to recover, targeting values of 2,224 USD or even 2,500 USD.