The Ethereum market has experienced fluctuations recently, with the cryptocurrency facing challenges following a notable drop below the crucial $3,000 level. A substantial withdrawal of 26,600 ETH, valued at over $82.5 million, by a major investor significantly impacted the market. As liquidations totaling $639.27 million unfolded, emphasizing the market's risk exposure, Ethereum's individual liquidation reached $161 million. The current market scenario suggests a consolidation phase for Ethereum between the $2,900 and $3,300 range, with potential price movements signaling either bullish recovery or further decline based on key support and resistance levels.