Ethereum price is confronted with technical breakdown and institutional selling pressure as investors become wary amidst geopolitical tensions.
The token will likely lose major $2,000 support levels as futures positioning and ETF outflows mirror persistent bearish momentum on multiple time frames.
Ethereum Price Breaks Rising Channel Structure Amid Accelerating Bearish Momentum
Analyst BlockchainBaller points out Ethereum’s official breakdown from its rising channel formation. This eliminated the prior bullish setup that has been holding price action in the last few weeks.
The technical breakdown comes in conjunction with bearish momentum strengthening. Relative Strength Index falls below 36, which is oversold condition levels.
Source: BlockchainBaller X post
The breakdown is visible for an imbalance zone of $2,170 and $1,900 that has been highlighted by the analyst as a high-probability price discovery magnet.
The zone is where Ethereum will seek balance after the s
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