Ethereum breaks through key support level at $ 3300

The price of Ethereum ETH $3,297.16 Bridged Ether (StarkGate) -2.45% Market capitalization $75.43 million VOL. 24 hours $1.93 billion fell by 3.3% to $ 3,331, breaking through the key support level of $ 3,400. According to CoinDesk, the decline occurred amid active accumulation of tokens by large investors, who have recently purchased 394,682 ETH worth about $ 1.37 billion.

According to analysts, the «whales» took advantage of the price decline to increase their positions in anticipation of a potential market recovery. Such actions may indicate the long-term confidence of major players in the further growth of the asset’s value, despite the current volatility.

Technical indicators show that after breaking through the $ 3,400 support, the next watch zone is near $ 3,250. If selling pressure intensifies, short-term traders may see further declines before a possible consolidation.

Market observers note that the current situation with Ethereum is unfolding amid institutional investor caution following the latest macroeconomic data from the United States. Nevertheless, the total trading volume of ETH remains stable, which indicates support from market participants focused on the medium term.

Ethereum currently maintains a capitalization of more than $ 400 billion, remaining the second largest cryptocurrency after Bitcoin BTC $101,012.00 Mezo Wrapped BTC -1.84% Market capitalization $52.94 million VOL. 24 hours $2.73 billion . Experts note that further price dynamics will depend on investor sentiment and the level of activity of major players, which continue to determine the balance of power in the market.