The price of Ethereum has been following a bearish trend, declining by over 10% and experiencing an intraday drop of 5.04%. Market volatility remains high, making it difficult for Ethereum to find strong support levels. There is concern that this downfall could push Ethereum below $2,000. The daily chart shows a falling channel pattern, with Ethereum dropping more than 40% from its swing high of $4,000. Technical indicators suggest a potential breakdown of the falling channel. If Ethereum fails to stay above the lower boundary of the channel, selling pressure could accelerate the decline. Fibonacci levels indicate that support may be found near $2,224, but a close below this level could put the $2,000 support zone at risk. If the channel breaks down, a steeper correction to $1,740 is projected. On February 24, US Ethereum spot ETFs saw a net outflow of $78.09 million, with four ETFs maintaining a bearish position. BlackRock had the largest outflow at $48.21 million, followed by Grayscale with $15.45 million. The remaining four ETFs had a net zero flow.



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