Ethereum Price Struggles Amid Technical Breakdown and Regulatory Uncertainty

Ethereum's price has been under pressure in recent sessions, with the altcoin trading nearly 7% lower for the week and roughly 28% lower year to date.

The Relative Strength Index (RSI) is hovering near oversold territory, which may suggest conditions for a short-term relief bounce. However, ETH continues trading below all major moving averages on the daily chart, signaling that bearish momentum remains dominant.