Ethereum’s price chart targets sub-$3K as spot ETF demand cools

💡 DMK Insight

Ethereum’s recent price action at $3,598.21 signals potential vulnerability, especially with institutional demand waning. A drop towards $2,800 isn’t just a number; it represents a critical support level that traders should monitor closely. If we see continued declines in institutional interest, particularly from ETH ETFs and treasury companies, it could trigger a cascade of selling pressure. This scenario aligns with broader market trends where risk appetite is shifting, and traders are becoming more cautious. Look for key indicators like trading volume and open interest in futures to gauge sentiment. On the flip side, if Ethereum can hold above $3,500, it might attract some bargain hunters looking for a rebound. But the risk of a deeper correction looms large, especially if we breach that $2,800 support. Keep an eye on the next few days; volatility could spike as traders react to these developments.