Currently, Ethereum’s market structure is bearish after dropping below 3,815 USD. A vital support level is between 3,900 USD and 4,000 USD, which needs defending for recovery.
Confidence remains as the ETH Exchange Supply Ratio on Binance hits a multi-month low, indicating heightened self-custody. Prices could decline to 3,400 USD if the 3,900 USD support fails.
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