After reaching a high of $3440 yesterday, Ethereum has seen a significant pullback today. Market data shows that the ETH price has fallen from its peak, dropping below $3200, with an intraday decline exceeding 5%. This pullback coincides with a widespread decline in the entire cryptocurrency market, with Bitcoin also falling below $90,000.

Market analysis suggests that after a substantial rally, some short-term funds have chosen to take profits, leading to a technical pullback. Currently, $3300 is a key psychological and technical level, and trading below it indicates a shift towards caution in short-term sentiment. Trading volume remains high, indicating intense competition between bulls and bears at the current position; the subsequent direction will need to be observed to see if it can quickly recover and stabilize above $3200.