Ethereum Price Plunges 8%, Traders See Breakout Potential at $10K

Ethereum prices fell sharply on Tuesday, dropping over 8% to trade around $3,940. This drop triggered significant liquidations, exceeding $115 million in long ETH positions being closed out. However, traders remain bullish, with some anticipating a breakout to $10,000 if key support levels hold. Ether’s price correction is showing signs of potential reversal as indicated by technical signals on the weekly chart.