Saad Ullah
Ethereum just lost a major psychological level at $4,000, and traders are getting nervous. This breakdown is adding fuel to the selling pressure, making $3,500 the next level everyone's watching closely.
Technical Breakdown
According to analysis from Ali, Ethereum's inability to stay above $4,000 shows that buyers are losing control. Right now, ETH is trading around $3,920 after some heavy selling. The chart suggests we might see some stability around $3,750, but if the selling continues, we're looking at $3,500-$3,510 as the main target. The old support at $4,000 has now flipped to resistance at $4,060, making any bounce attempts much harder. The technical pattern shows potential volatility ahead before any real test of those lower levels.
What's Driving This Drop
Several factors are working against Ethereum right now. The U.S. dollar is getting stronger while bond yields stay high, which typically hurts crypto. Overall market sentiment is turning sour, especially for altcoins, adding more selling pressure. When $4,000 broke, it likely triggered a bunch of stop-loss orders, which accelerated the selloff. Plus, there aren't any major Ethereum updates or positive news to counter this bearish trend.
Saad Ullah
