Ethereum (ETH) faced pressure on Wednesday. Weakening technical indicators, rising Treasury yields, and ETF outflows raised concerns.
ETH traded near $2,129, down 12% from its local high. Rising US bond yields reduced risk appetite.
Technical analysis shows ETH broke below an ascending channel. If the $2,080 support breaks, a drop to $1,800 is possible.
Leveraged long positions are at risk. A decline below $2,040 could trigger forced liquidations.
ETF outflows and geopolitical tensions add selling pressure. However, institutional demand could recover.
