Ethereum Price Drops Below Key Support Line

Ethereum prices experienced a significant drop, breaching a crucial support trendline previously identified by Fundstrat founder Tom Lee. This development signals a potential period of market uncertainty for the second-largest cryptocurrency. Analysts attribute this recent decline to historical September weakness and declining open interest. The immediate support level stands at $4,180, critical for the short-term direction of Ethereum price. If this level holds, a rebound is likely; however, a sustained recovery may be delayed by previous bull market activity and recent bearish signals from derivatives trading.