Ethereum Breaks Below $4,000 – Is a Reversal in Sight?

The cryptocurrency market experienced volatility on Monday, with Bitcoin and Ethereum seeing retracements after recent gains. Over $542 million in positions were liquidated, indicating increased market stress and uncertainty among leveraged traders. Ethereum (ETH) has dropped more than 3% today, but the focus is now on its behavior near a key support level that could signal a reversal or deeper decline. An analysis of Ethereum’s recent price action suggests a potential double bottom pattern, offering a bullish sign.