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Ethereum Drops Below $4,000: $3,500 Now in Focus
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
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.