Ethereum is currently trading at $3,990 as it faces significant selling pressure despite record transaction volumes, marking a crucial moment for traders monitoring the $4,000 support level. The cryptocurrency’s activity has surged, with transaction volumes reaching unprecedented levels. However, this increase in network activity is juxtaposed with a 2.7% decline in daily trading prices. Traders are closely observing the ,000 psychological support, as it represents a key inflection point in Ethereum’s price movement. The dynamics between high transaction volumes and technical selling pressure create a complex environment for market participants.
