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Ethereum price dips, risks retesting $2,200 support amid weakening momentum and slower institutional buying.

Technical Signals
12 May 2026
Crypto news
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Bearish
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Ethereum's price slipped below $2,400, showing signs of weakening momentum with a bearish RSI divergence suggesting potential retest of the $2,200 support level. Institutional buying has slowed, with whale wallets accumulating about 360,000 ETH but major buyers like Bitmine reducing purchases as they near supply targets. Despite short-term weakness, some analysts remain optimistic, noting Ethereum holds above a long-term support trendline. If the price falls below $2,200, it could drop further toward $2,000, while reclaiming $2,400 resistance is key for bullish recovery.

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