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Ethereum shows correction signs amid strength, warning of drop to $1,800

Ethereum is extending gains, drawing attention as derivatives markets show an all-time-high leverage ratio. BeInCrypto reported on March 12 that bearish signals may be building behind the rise, raising the possibility of a correction. CryptoQuant data showed estimated exchange leverage at about 0.78, with open interest rising from about $9.4 billion to about $10.21 billion in three days. A head-and-shoulders pattern points to a potential move toward $1,680, with $1,800 seen as a key drop level.