Ethereum Battles Failing Support Amid Technical Weakness and Market Exodus

Market observers report a prolonged deterioration in Ethereum's price performance, warning that persistent weakness below critical support levels could push the value down to around $1,060. Key factors behind this downturn include a fragile market structure, a noticeable drop in on-chain activity, and reduced institutional confidence as evidenced by a significant outflow from U.S.-based Ethereum funds. Technical analysis shows that Ethereum has repeatedly been unable to break the resistance level at $4,000, and the ETH/BTC pair continues in a downward trend with the daily RSI falling below 30, indicating oversold conditions. Collectively, these issues are leading investors to approach the market with caution, as the technical signals suggest that short-term recovery remains uncertain. No clear positive divergence has been confirmed in the weekly charts, further fueling bearish expectations. The decline in network transaction volumes and lower median gas fees intensify the doubts regarding sustained investor interest.