<ul><li>Nearly 38% of Ethereum’s market cap, around $123 billion, was bought close to current prices, leaving investors at risk of quick losses if the price dips.</li><li>A key level to watch for potential forced liquidations in Ethereum is $2,472, although a drop to that level is not considered likely at the moment.</li><li>Despite recent gains, Ethereum remains in a delicate position with a fragile market structure, according to analytics firm Glassnode.</li><li>Technical analyses indicate that Ethereum could see a potential breakout above $2,700, with targets set at $3,400, depending on key price levels being maintained.</li></ul>

Ethereum Market Fragile as $123B Hovers Just Above Investor Cost Basis

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