Ethereum is currently trading around $3,282, after a sharp 9% decline over the past 24 hours. The recent drop comes amid heavy liquidations, institutional outflows, and growing caution in the broader crypto market.
Despite the correction, Ethereum’s long-term fundamentals remain intact, supported by its leading position in decentralized finance (DeFi) and Layer-2 adoption.
ETH Next Target
- Price: $3,282
- Market Cap: Approximately $405 billion
- 24-Hour Trading Volume: Around $35.6 billion
- Circulating Supply: ~120.7 million ETH
- Total / Max Supply: No fixed cap
After a bearish breakout from Channel Up pattern, price has pulled back and broke below the support zone: $3,450 and 200 SMA. That could signal onset of Downtrend. However, near-term, it’s getting oversold (RSI < 30) and could bounce back above that critical area and revisit $4,000.
Key Indicators & Market Signals
- Ethereum’s strong support sits around $3,200, with resistance at $3,450–$3,500.
- The token recently triggered nearly $1 billion in liquidations as leveraged positions were unwound.
- Short-term momentum remains weak, but on-chain data shows that long-term holders are largely unmoved.
- Staking activity continues to reduce the available liquid supply, which may help cushion the downside over time.
Latest News Highlights
- Ethereum’s sharp decline coincides with a broad crypto sell-off, affecting both retail and institutional positions.
- Analysts report that large funds sold over $100 million worth of ETH in early November, reflecting a temporary shift toward cash and stable assets.
- Despite the volatility, network activity remains strong, with high gas fees indicating active usage and demand.
Summary
Ethereum trades near $3,282, facing pressure from liquidations and institutional outflows. Support lies around $3,200, with resistance near $3,500. A recovery above resistance could push ETH back toward $3,800–$4,000, while failure to hold support may lead to further downside.
With strong staking fundamentals and growing DeFi participation, Ethereum remains a leading crypto asset to watch as the market seeks stability.
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