Ethereum market share nears historic lows as ETH price risks falling to $1,100

Ethereum (ETH) is nearing all-time low market dominance, currently at 7.18%, slightly above the 2019 low. This decline is accompanied by a falling ETH price, potentially indicating a deeper correction. A bearish chart pattern suggests a possible drop to $1,100, a 33% decrease from the current price. Competitor cryptocurrencies, like XRP, BNB, and SOL, have seen significant market dominance increases. Weak institutional demand, a sluggish derivatives market, and increased competition contribute to ETH's underperformance. Ethereum's total value locked (TVL) dominance is also decreasing, further highlighting competitive pressures. The relative strength index (RSI) remains below 50, supporting the bearish outlook. Potential price drops are based on technical analysis and should not be taken as financial advice. Readers should conduct thorough research before making any investment decisions. This information is for educational purposes only and does not constitute financial guidance.