As reported by CryptoPotato, the 2022 market crash and subsequent market correction, especially the sell-off in August, have increased downward pressure on Ethereum. The world's largest altcoin once fell to $1,580. Despite multiple failed attempts to break through the $1,700 level, Ethereum finally broke through the previous level yesterday and is currently trading around $1,644. However, data shows that regardless of Ethereum's current value, the asset remains viable. According to Santiment's latest analysis, there is considerable psychological support around $1,500. If ETH reaches this threshold, trading volume may rise sharply. In addition, Glassnode's alerts show that retail investors holding at least 10 ETH continue to accumulate Ethereum at current levels and reach a four-week high. This observation shows that retail investors have regained confidence in the market. This sentiment is further confirmed by the increase in the outflow of Ethereum tokens from crypto exchanges. In fact, the ETH exchange balance has dropped to its lowest level in five years, just over 14.8 million ETH.