Ethereum's price has declined to $2,815 after breaking its ascending trendline, leading to a significant sell-off. The cryptocurrency's market capitalization dropped from $365 billion to $340 billion. Despite the downturn, valuation models indicate a fair value of $4,837, suggesting potential for recovery. Supply zones between $3,250 and $3,800 are currently restricting upward movement, with traders closely watching for signs of stabilization or further decline.