Ethereum (ETH) has retested its crucial $2,800 support level for the second time this week, as the broader crypto market erases all its intraweek gains. Ethereum, the second-largest cryptocurrency by market capitalization, followed the market-wide correction, retracing 6.9% in the daily timeframe. According to Binance market data, Ethereum fell below $2,800 on Thursday morning, briefly bouncing before reaching a one-month low of $2,773. Notably, more than half of the liquidations occurred in the past four hours, wiping out over $620 million since the morning. Sjuul from AltCryptoGems highlighted Ethereum’s price range in the daily chart, where the altcoin has hovered over the past two months.