The Ethereum price has experienced a 4% loss in the last 24 hours and a 7% decline on the weekly chart due to weakened bullish momentum. Technical analysis suggests significant bearish pressure, with the coin's value remaining stagnant at around $1,800.

The declining market capitalization of Ethereum indicates a gradual departure of buyers from the market, and to break its resistance, substantial buyer participation is required. Bitcoin must also recover and reach the $27,000 zone to initiate a short-term recovery for ETH. Technical indicators on the daily chart of Ethereum are showing sell signals, suggesting a potential decline in price before any recovery takes place.