The $ETH has dropped to $2,328.48, a 20.05% decrease in the last 24 hours, indicating a strong bearish trend.

The 4-hour chart shows the MA(7) at $2,674.62 and MA(25) at $2,946.33, highlighting significant downward momentum. High trading volume of 1.62M ETH reflects active market participation, with 77.83% of the order book showing sell positions, indicating low buyer confidence.

Despite this, ETH's 26.74% gain over the past year suggests potential for recovery. Traders should monitor RSI and MACD for trend reversals, noting key support at $2,111 and resistance at $2,518, while staying informed about market trends and external factors.

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