Ethereum Sees a Sharp Decline in Trading

Ethereum has experienced a significant decline in recent days.

The cryptocurrency has dropped by more than 10%, reaching a price of

near $3,053.

The cryptocurrency's market capitalization

 has also decreased in the past few hours,

currently valued at approximately $395.49 billion.

Technical Outlook

The cryptocurrency is currently attempting to recover

 from recent losses and has begun to rise.

It is now trading near $3,352 after reaching

strong buying pressure on the daily timeframe near $3,084.

If the upward trend continues, we may see a retest of

near $3,640, a level that has been broken as support.

This level could soon become resistance if tested.

If the currency continues to decline due to

 recent investor withdrawals,

we could see it drop to near $2700.

Therefore, please exercise caution when trading this cryptocurrency.