Ethereum $ETH ( ▼ 6.47% ) is under heavy pressure, dropping below $2,200 and hitting its lowest level in roughly nine months. In just the past week, more than $100 billion has been erased from its market value, highlighting how quickly sentiment has turned in the broader crypto market.
The second-largest digital asset is feeling the weight of risk-off flows and persistent selling.
Price Weakness Persists Despite Fundamental Growth
Some analysts point out that on-chain activity and real-world asset tokenization on Ethereum continue to grow. But that has not stopped money from flowing out of the asset.
Spot ethereum ETFs have seen hundreds of millions of dollars in outflows so far this year, a sign that institutional demand has not been strong enough to counter broader market selling. For now, price action is telling a different story than network fundamentals.
Where Traders See the Next Support
Calling a bottom is always tricky, but some market watchers are eyeing the $1,500 area as a potential support zone based on past volatility and trading ranges. If selling pressure continues, that level could come into focus as a key technical area.
Until buyers step in more aggressively, the trend remains tilted to the downside.
Big-Picture Questions About Scaling
Ethereum’s slump is also unfolding as debates continue about the network’s long-term scaling path. Cofounder Vitalik Buterin recently suggested that earlier expectations about how layer 2 networks would evolve may need to be rethought, as the main Ethereum chain itself has been improving and lowering fees.
That shift in thinking underscores how the ecosystem is still evolving. But in the short term, Ethereum $ETH’s price is being driven more by liquidity, positioning, and macro risk sentiment than by long-term technical roadmaps.