Ethereum’s price faced a 9% decline, falling to 3,336 USD, testing the critical support level of 3,327 USD. This drop reflects the cautious sentiment among investors recently influenced by market corrections. The cryptocurrency must reclaim the 3,721 USD level to aim for a HIGH target of 4,107 USD by late 2024.

Investor behavior is mixed, with some holding their positions while others are liquidating due to market uncertainties. The 1.52 million ETH increase in 1–3 month holders shows Optimism, but ongoing liquidation pressures might suggest a need for cautious evaluation. Sustaining between 3,327 USD and 3,524 USD could bestow needed stability.