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Ethereum is facing a massive sell-off, with $570 million worth of ETH sold in the last 48 hours, indicating that investors are taking profits. The MACD has shown a bearish crossover after seven weeks, suggesting that prices may decline further and volatility may increase. The ETH price is hovering around the support level of $2,500; if it breaks below this level, it could drop to $2,344, while it must break above the resistance level of $2,654 to reverse the bearish trend.