Ethereum has experienced a dramatic 46% price drop to $1,508.91, driven by a confluence of global economic factors and uncertainty in the crypto market. Analysts highlight that both macroeconomic conditions and regulatory concerns are weighing on investor confidence, pushing ETH toward new lows following several political statements promoting its purchase potential. Current support at $1,431 remains under pressure as market volatility suggests a potential for a further decline. Despite this downturn, technical indicators show ETH is trading near key support levels, with the price hovering around $1,431 and exhibiting resistance above $1,769. 8% of the token’s value has been lost since recent highs.