The article discusses the current state of Ethereum and its potential future trends. It mentions that Ethereum may trigger a fresh bearish wave as it is losing support levels and whale activity suggests a shift towards Ethereum from other cryptocurrencies. The usage of DApps on Ethereum has been decreasing, along with a decline in transaction costs and active DApp addresses. The worsening macroeconomic conditions and regulatory concerns have also negatively impacted the price of Ethereum. The article highlights a recent instance of a whale swapping tokens for Ethereum, indicating potential stability and long-term growth. However, for now, a consolidated narrow swing is expected.
AI Sentiment: Neutral
