Ethereum’s (ETH) trading activity reveals a precarious situation. The cryptocurrency is currently priced around $2,200 after a slight increase of 1.04%. However, with $700 million in long positions at risk if ETH drops by just 8%, traders are keenly observing price movements.

The market’s recent performance follows a 15% drop on March 3, leading many investors to evaluate their strategies. The ongoing volatility is causing apprehension among traders as Ethereum fights to maintain momentum amidst external pressures.

How Ethereum navigates this challenging landscape will be critical. If it can sustain a rebound, there may be opportunities for recovery amid this uncertainty. Watch closely as ETH attempts to recover and solidify its position.