Recently, the price of Ethereum (ETH) fell below $3,000, mainly due to large-scale selling by institutional investors.

ETH prices fell below multiple key support levels, including the 200 EMA. The 50 EMA and 100 EMA also show a bearish trend. The trading volume surged, reflecting significant liquidation activities. The RSI fell to 31, indicating that Ethereum has entered the oversold area, but it will not necessarily recover quickly.

Institutional investors sold off their ETF holdings, causing ETH prices to fall sharply. The massive sell-off severely disrupted the market, triggering a domino effect, causing more investors to follow suit and sell, exacerbating the price decline.

If the sell-off continues, Ethereum may face further downward pressure. If key support levels cannot be restored, the market may experience a long period of bearish activity. But the oversold situation shown by the RSI may attract some buyers to enter the market.

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