Ethereum (ETH) has seen a rally of 58% recently, surpassing the S&P 500’s 12.5% increase. However, the market sentiment has weakened, prompting traders to sell off about 19 million USD of ETH in just 24 hours.
The total value locked (TVL) in Ethereum’s ecosystem has witnessed a decline, dropping by 3.438 billion USD. At present, a liquidity cluster at 2,477 USD may serve as a support level for ETH if downward trends persist.
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