Ether breaks below ‘Tom Lee’ trendline: Is a 10% drop incoming?

Ether’s price dipped below $4,300 following a failure to hold above $4,700, resulting in $338 million in liquidations. Key analysts stress that this level is critical, and considering historical trends, a possible 10% decline looms as September typically reflects poor performance for Ether.

The market shows negative funding rates and decreased open interest, signaling liquidity concerns. The immediate support at $4,180 requires close watch, as a break below $4,000 could suggest a significant bearish trend for Ether.