Ether's price has fallen nearly 20% in the week before March 9, the largest weekly drop since November 2022. This decline breaks a bullish trendline that began in June 2022, suggesting a potential end to a nearly three-year bullish trend. The drop indicates a shift towards more significant losses for ether, with potential support levels identified at around $1,500. The recent sell-off has broken through a key support area at approximately $2,100, indicating significant selling pressure. On a technical level, breaking a long-standing bullish trendline is often a signal of weakening demand, which can lead to further selling as markets react to the breakdown. Ether's performance has now shifted focus, and traders will be watching to see if the price can regain levels above $2,523 to stabilize the market.

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