$ETH is going down right now
Ethereum's 5% drop might be attributed to a combination of factors. One possible reason is the overall market sentiment, which can be influenced by various events and announcements.¹ Additionally, Ethereum's price movement is often correlated with Bitcoin's price, so if Bitcoin's price is dropping, Ethereum's price might follow suit.²
From a technical analysis perspective, Ethereum's price is forming an ascending triangle, which could indicate a potential breakout or reversal. Some traders also point to the bearish divergence on the 4-hour and daily time frames, which could suggest a trend reversal.
It's also worth noting that Ethereum's dominance in the crypto market is completing a significant corrective phase, which could impact its price movement.
