Ethereum Price Falters at $2,100 Amid Bearish Sentiment

The Ethereum (ETH) price has been struggling to maintain its momentum after facing rejection at $2,100. This development has sparked concerns about the recent breakout hype and whether it was overhyped.

A significant on-chain movement involving a long-term Ethereum whale has added to the bearish sentiment. A 2-year dormant wallet address deposited 15,000 ETH into Coinbase, which is often interpreted as selling intent.

Crypto trader Alan has predicted that if the current trend continues, the next major downside target for ETH could be $1,800. This represents a deeper correction zone, potentially 10% lower than current levels around $2,000.