Ethereum Drops to Two-Month Low: Analysis on Whether Ethereum Can Return to the $3,000 Mark

According to CoinWorld, Ethereum plummeted by 8.2%, hitting a two-month low of $2,681 and triggering over $242 million in long liquidations. Despite the wave of sell-offs, on-chain data shows that whale trading remains active: one trader purchased 20,000 Ethereum worth $56.03 million, while another well-known trader, after being liquidated for $2 million, re-established leveraged long positions. Net outflows from exchanges indicate that funds are accumulating, but momentum indicators such as the RSI remain at the 35 level, suggesting that bearish pressure persists and Ethereum's price could further decline to around $2,500.