Ethereum (ETH) has dropped below the $2,800 USDT level after recording a 5.59% decline in the past 24 hours, signaling renewed short-term bearish pressure in the crypto market.
The move comes amid broader market volatility, with traders reducing risk as uncertainty grows around macro conditions and overall crypto momentum. Bitcoin’s recent hesitation near key resistance levels has also contributed to weaker sentiment across major altcoins, including ETH.
Falling below $2,800 is technically important. This level had been acting as a short-term support zone, and losing it may open the door for a test of lower liquidity areas if buyers fail to step in quickly. Trading volume has increased during the drop, suggesting active repositioning rather than low-liquidity drift.
Despite the pullback, Ethereum’s long-term fundamentals — including network upgrades, staking growth, and Layer-2 expansion — remain intact. However, in the short term, price action is being driven more by trader sentiment and market structure than fundamentals.
If bulls want to regain control, ETH needs to reclaim the $2,800–$2,850 zone soon. Otherwise, further downside volatility could follow.
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