ETH Drops 2.09% After Nine-Day Rally, Holds $3,600 Support Amid $46B Trading Surge

Ethereum (ETHUSDT) experienced a 2.09% decline over the past 24 hours, with the price dropping from 3,776.93 USDT to 3,697.91 USDT on Binance. This pullback follows a recent rally from $2,500 to $3,800, and is attributed to profit-taking after a nine-day streak of gains and the testing of key resistance levels between $3,877 and $3,987. Despite the dip, institutional interest remains strong, as evidenced by Ethereum reserves surpassing $6.25 billion, and overall market activity is robust with 24-hour trading volumes exceeding $46 billion. Ethereum continues to consolidate above the $3,600 support level, maintaining a bullish trend while facing significant resistance.