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 ($3,321.36) 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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