#ETH Ethereum is currently in a consolidation phase, with its price hovering around $3,700, showing pressure on key support levels. At the same time, on-chain data indicates that exchange reserves are declining, which could reduce selling pressure if a reversal occurs. Technologically, Ethereum remains strong — the network continues to drive massive development of dApps and Layer-2 solutions, supporting its long-term growth vision. Institutional interest also remains significant, suggesting that a wave of fresh capital could fuel recovery if market sentiment improves. In the short term, watch the battle between support at $3,600–3,800 and resistance near $4,200.