Ethereum (ETH)Ethereum is under significant pressure, with its market dominance dropping to a multiyear low of 7.18%, nearing its all-time low of 7.09% from September 2019.

A bear flag pattern on the ETH/USD daily chart suggests a potential 33% price correction to $1,100. The Relative Strength Index (RSI) remains below 50, favoring a bearish trend.

Ethereum’s struggles are compounded by declining DeFi activity and competition from other layer-1 blockchains like Solana.