High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?
I wonder why @OP seems to doubt ETH's ability to bounce back and gain more support because I see ETH's position is still strong and can hold on to where it is now. But if it's about the price dropping, I think it's not just ETH that's experiencing it but also other coins. And it's only a matter of time for ETH to rally again in the next altcoin season. But for the technology, I think ETH can still compete with other technologies and there is still a possibility to increase further in the future.