Ethereum's price has been stagnant in the range of $4,200 to $4,500 for two weeks, prompting a bearish outlook among traders due to declining spot and institutional demand. Spot trading volume for Ether has dropped significantly, showing weak market participation and conviction. Analysts predict that if Ethereum fails to hold key support levels, the price could decline to around $3,500 before any recovery attempt. The market sentiment has turned negative, with many traders expecting further price drops, which might paradoxically indicate a potential buying opportunity according to some analysts. With institutional investors also retreating from the market, pressure on Ethereum's price could intensify. Key support levels will be crucial moving forward, as further declines could lead to a breach down to liquidity clusters identified between $3,600 and $4,000. The market is at a tipping point, with traders keenly observing the next price movements to gauge future trends.

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