Ethereum Price Slumps Amidst Geopolitical Tensions

Ethereum's price has been affected by the current decline in the cryptocurrency market, which is linked to geopolitical tensions and investor risk aversion. This has resulted in a 1.3% decrease in Ethereum's price over the last day.

The institutional sentiment towards Ethereum ETFs has also been cautious, with $206.58 million in net withdrawals recorded last week. This trend of daily redemptions has added to the macro headwinds facing Ethereum.

Technically, Ethereum is trading below its 7-day and 30-day moving averages, indicating a negative position. The RSI shows negative momentum without entering oversold territory, suggesting that there is still space for decline before a technical comeback.