Ethereum's Price Drops Due to Forced Selling in Fragile Market

Ethereum's price has dropped due to forced selling in a fragile market, reflecting risk-off behavior and fear-driven sentiment. The total crypto market cap has decreased by 2.36% over 24 hours, with volume increasing roughly 71%. This is typical pairing of heavy repositioning under stress.

The daily chart shows a bearish trend, with Ethereum trading below its key moving averages. However, the hourly chart is attempting to stabilize, and the 15-minute chart indicates a short-term bounce. A relief rally or mean-reversion move could be possible if Ethereum holds above certain levels and momentum indicators turn decisively positive.

On the other hand, the bearish scenario suggests another leg lower, with Ethereum failing to get above or hold above key resistance zones. In this case, a break below the daily pivot and hourly support would open the door to a deeper flush.