Ethereum Price Drops 11% from Recent High Amid Cooling Activity

Ethereum's price has dropped around 11% from its recent high near $2,600 to around $2,400 after getting rejected from the $2,550, $2,660 resistance zone.

The rejection has taken ETH roughly 11% below its highs, and it remains to be seen whether this is a correction or the start of a deeper retracement.

According to Glassnode data, Ethereum's market cap moved between roughly $308 billion and $326 billion during the measured period, closely following ETH's price movement between approximately $2,400 and $2,530.

The key support range for now is around $2,350, $2,380, breaking which could expose ETH to the $2,000, $2,100 region.