The 5.7% drop in the price of Ethereum reflects a decline in market leverage, geopolitical tensions, and technical failures.
1. Liquidation of $650 million in cryptocurrencies pressured Ethereum amid forced selling.
2. The US-Iran conflict has caused a reluctance to take risks and trading in stablecoins.
3. The critical technical support failed at the $2,362-$2,445 level.
