Its not just ETH that is taking the beating, all of the coins and tokens in crypto are taking the beating, we always see BTC to bounce back to $20k but where is it now? Why do you always have to portrait ETH to plummet down sharply when every thing did. This seem to be a planned assault to make ETH look like its being dumped by major investors so they can buy more of the ETh in the market.
If so then this can be said to be market manipulation, in which new investors want to buy at a low price and they have got a lot of support which will result in the ETH falling in price with negative news published by one of the related companies in the article. I don't feel that ETH will be that weak, because after all crypto is not only ETH, there are many altc here and already have a large supporter.