Ethereum Drops Below $3450 Amid 5% 24-Hour Loss Highlighting Short-Term Bearish Trends

I observe that Ethereum has dropped below the $3450 mark, with a 24-hour decline of 5.04%. This indicates a significant short-term correction in the cryptocurrency's price, suggesting increased selling pressure or market uncertainty.

Given this decline, it’s important to consider the broader market context, including recent trends, macroeconomic factors, and investor sentiment toward Ethereum and the broader crypto ecosystem. A fall below key support levels like $3450 could signal further downside, especially if technical indicators and volume patterns confirm sustained weakness.

Investors should remain cautious and watch for signs of stabilization or reversal, such as support at lower levels or positive technical divergences. It’s essential to analyze whether this correction is part of a larger trend or a temporary pullback amid overall market volatility.