Ethereum in Steep Correction: Will $2,000 Hold or Break?

Ethereum's price has dropped by about 12% in the last day, to around $2,093, bringing its total market value down to $252 billion. This drop comes after Ethereum failed to hold above $2,500 and is now approaching the key $2,000 support level. Indicators suggest decreasing buying pressure, but there's also a hint of potential price stabilization around $2,000. Meanwhile, Ethereum ETFs saw $12.10 million flow out of the market on March 3rd, the eighth straight day of outflows. Most ETFs had no net change, but BlackRock sold $16.06 million worth of Ethereum while Bitwise bought $3.96 million. While the current price pattern suggests Ethereum might hold around $2,000, negative economic factors could push the price below this level, down to $1,800. If Ethereum stabilizes, it could potentially rise back up to $2,400 or $2,530.