Ethereum is facing a potential price drop to $2,600 as a significant amount of ETH, totaling 110K, has entered exchanges. This influx adds to the bearish sentiment currently present in the crypto market.
With rising sell pressure and profit-taking, the situation has put Ethereum's price under threat, raising red flags for investors.
Technical and on-chain analysis is necessary to better understand the current state of Ethereum and predict upcoming trends in its market behavior, especially during these volatile times.
