Ethereum Price Drops Below Support, OBV Signals Renewed Selling Pressure

Ethereum’s price has fallen below the $3,800 support level, signaling renewed selling pressure in the short term. Trading volume suggests this may lead to a potential break below the $3,600 support zone, according to technical analysis. Despite this dip, institutional investors like Bitmine hold over $8 billion of Ethereum, displaying confidence in its long-term prospects despite the market’s current downturn.