Ethereum, the second-largest cryptocurrency by market capitalization, has seen a modest price increase in the past 24 hours. However, this uptick is overshadowed by a decline in its daily trading volume. Despite recent regulatory and layer-2 developments, the overall crypto market has been relatively stagnant, with Bitcoin struggling to break above $61,000.

Ethereum's price has increased by 0.46% in the last 24 hours, reaching an intra-day high of $2,688. However, its daily trading volume has decreased by 10.20%. Over the past week, Ethereum has shown signs of consolidation, with prices fluctuating around the $2,600 range. The lack of significant price movements suggests that the altcoin may be entering a consolidation phase.

Market analyst Ali has reported that long-term Ethereum whales have been selling, which has negatively impacted market sentiment. This selling pressure is reflected in the token's short-term moving average being below its long-term moving average and its RSI standing at a bearish level.

If Ethereum can overcome the current resistance and reach $3,000, it could signal a potential price breakout. However, the broader crypto market's performance, including Bitcoin's price movements, will also play a significant role in influencing Ethereum's trajectory.