#ETHProspects Ethereum Price Stalls Below $3,500 as Leverage Ratios Rise

Ethereum has traded between $3,200 and $3,500 for months, stabilizing. Even if the market is rising, ETH is still stuck in this area.

After a protracted drop from its late 2021 peak of $4,800, it has stagnated. The cryptocurrency has fallen 32% from its high.

Even the new pro-crypto government and regulatory clarification have failed to move Ethereum above its present resistance levels.

ShayanBTC, a CryptoQuant QuickTake contributor, has identified a key statistic that might indicate an ETH price shift under present market circumstances.