Ethereum dropped to 3,940 USD after an 8% decline, impacting long positions with 115 million USD in liquidations. The crypto market suffered a loss exceeding 650 million USD, showing volatility and increasing selling pressure.
Traders remain hopeful for ETH to surge towards 10,000 USD if support holds at 3,800 USD. Analysts point to ongoing corrections as necessary, with crucial technical indicators suggesting potential upward movement.
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