ETH Faces 3.95% Drop as TVL Slides 17%—Can Ethereum Break Key Resistance Levels?

Ethereum (ETH) is currently trading at $2,523.29 on Binance, reflecting a 3.95% decline over the past 24 hours from a 24h open of $2,627.15. The price decrease is primarily attributed to ongoing technical resistance in the $2,660–$2,745 range, as highlighted in recent analysis, coupled with a 17% drop in Total Value Locked (TVL) to 25.1 million ETH and declining activity on major DeFi platforms such as Sky and Curve Finance. Despite strong developer engagement and over 27% of ETH supply staked, market sentiment has been tempered by weakening network activity and increased competition from other blockchain platforms. Trading volume remains robust at approximately $17 billion, and Ethereum retains its position as the second-largest cryptocurrency by market capitalization, though its valuation has seen a year-over-year decline. The market is closely watching for a decisive move above key resistance levels, with consolidation likely to continue in the near term.