ETH’s back at $3.2K: Will traders flip the level from resistance to support?

Ethereum remains the leader in total value locked, but declining usage and economic uncertainty in the United States may hinder a rally to $4,000.

Key takeaways:

Ether trades near $3,200 as weaker network usage and US economic uncertainty limit its price upside.

Layer-2 networks drive most Ethereum activity, but cheaper rival blockchains reduce the chance of Ether reclaiming $4,000 soon.

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