Ether fell below $4,300 after failing to break $4,700, facing $338 million in liquidations adding sell pressure. Key support at $4,300 noted by analysts, but September’s historical weakness may lead to a 10% drop. Long positions are being liquidated, setting up a potential rebound if spot demand returns.
Futures positions for Ether are cautious, with a divergence in open interest trends showing retail traders closing long exposure. Total ETH open interest dropped to $9 billion, with negative funding rates indicating short dominance. Historically, these conditions can precede sharp reversals, signaling a potential bullish rebound.
Technical analysis suggests weakness in higher time frames, with a 10% drop possible in early September. Immediate support at $4,180, with attention on the $3,900-$3,700 zone and the $3,100-$3,300 region for potential inflection points. A breakdown below would question Ether’s ongoing bull cycle sustainability.

Read more at CoinTelegraph: ETH Risks 10% Correction As $4.3K Support Is Tested