TechFlow News: On March 30, independent analyst Markus Thielen observed that Ethereum has broken below a key technical support level and is currently forming a bearish flag pattern, with price trading near $2,004. This pattern closely resembles the one observed in January this year, after which prices experienced a pronounced decline—raising concerns that the current pattern may play out similarly.
From a funding perspective, market trading volume remains persistently low, reflecting weak participation. Since September last year, Ethereum ETFs have seen continuous net outflows, with no recent signs of improvement. Fundamentally, a new DeFi cycle has yet to begin; on-chain activity shows no clear signs of recovery. Recently, USDC minting volume has notably slowed and turned into net outflows, indicating that liquidity improvements across the ecosystem remain fragile, and structural demand support remains limited.
