Is Ethereum price nearing a drop under $3K

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The Ether price has declined 10% since the approval of spot Ether ETFs, with open interest depreciating by over $250 million over the past 24 hours.

Ether is struggling to retain its footing in the market, as its long-term chart confirmed a major bearish signal.

ETH price dives below key trendline

ETH’s daily candle closed under the 200-day moving average (200-DMA), a move wit a history of preceding corrections.



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