Ethereum is witnessing short-term selling pressure, reflecting potential market consolidation. The critical support level at 3,800 USD needs to be maintained to prevent further declines, with a target of 3,400 USD looming ahead.
Despite lower open interest post-liquidation, market sentiment towards Ethereum remains muted, indicating a potential for recovery. Increased inflow activity suggests continued selling pressure, which may lead to volatility in the coming weeks.
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