The article states that Ethereum is at risk of losing a significant price level, as it has been steadily declining with waning network activity and investor interest. The chart shows a clear downward trend with lower highs and lower lows, indicating bearish control. On-chain data suggests a decline in network size, as participants are leaving the asset and DeFi activity slows down. The technical outlook does not provide much reason for optimism, as losing the $2,000 support level could lead to a more drastic correction. The RSI levels suggest a possible short-term rebound, but a recovery would need to overcome resistance at $2,200. Until then, Ethereum may continue to decline.



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