Ethereum has slipped beneath the psychologically significant $3,700 level, trading at approximately $3,698 at recent checks. This descent represents a notable shift for the leading altcoin as it breaches this key valuation threshold, reflecting increased selling activity in the market.
The cryptocurrency recorded a 24-hour depreciation of 0.42%, signaling a subdued yet persistent bearish sentiment among traders. While the movement appears modest, its breach of the $3,700 support line warrants attention from analysts tracking short-term market structure and potential liquidity zones.
Market observers are monitoring whether this downturn forms part of a wider correction trend or represents temporary volatility. The slight but consistent retreat highlights ongoing caution despite Ethereum’s fundamental technological developments and substantial ecosystem activity.