After reaching a high of $3440 yesterday, Ethereum experienced a significant pullback today. Market data shows that ETH price has retreated from its highs, falling below $3200, with intraday declines exceeding 5%. This correction coincides with the overall decline in the cryptocurrency market, with Bitcoin also dropping below $90,000.

Market analysis suggests that after a substantial rally, some short-term funds chose to take profits, leading to a technical correction. Currently, $3300 is a key psychological and technical threshold. The price trading below this level indicates a shift to cautious short-term sentiment. Trading volume remains high, indicating intense battle between bulls and bears at the current level. The next move depends on whether the price can quickly recover and stabilize above $3200.