Ethereum is currently encountering a significant risk of a breakdown in its price movement, particularly as there has been a notable increase in outflows from Exchange-Traded Funds (ETFs) related to the cryptocurrency. This situation raises concerns about the potential for a bearish trend, which could lead to a drop in value. As the market dynamics shift, the critical support level at $3,800 becomes a focal point of interest. The question now arises: can bullish investors and traders step in to bolster the price and protect this vital support level from being breached? Overall, the outlook for Ethereum seems precarious, and the actions taken by market participants in the near future could determine its trajectory.
source: https://blocknews.com/ethereum-faces-breakdown-risk-as-etf-outflows-spike-can-bulls-save-3800-support/