🔷Ethereum continues to trade below its descending trendline and key moving averages, maintaining a bearish market structure. After a failed recovery attempt, the price stabilized near $2,925, while ETF outflows exceeding $220 million reinforced the perception of institutional distribution rather than accumulation. As long as ETH remains below its EMA cluster, rebounds are largely viewed as corrective moves.
🔷The $2,880–2,900 zone serves as an important short-term support, temporarily containing further downside. A breakdown could open the path toward $2,750 and $2,500, while holding this range may allow the market to shift into consolidation. Ethereum is therefore at a point of equilibrium, where fading selling pressure meets a lack of convincing demand.