Ethereum fell below $2000 this week, which is part of an existing downtrend. Technical indicators had already signaled a decline weeks before on-chain data showed wallet activity related to Vitalik Buterin. Approximately 19,300 ETH (worth about $39 million) in sell-offs have been absorbed by the market, which is now showing signs of decentralization and weakened momentum. Since ETH failed to hold key moving averages and the $2000 level is currently under pressure, sustained trading below this level could lead to a further decline toward around $1700. To reverse the current downtrend, Ethereum needs to regain the $2200-$2300 range.