#Ethereum Price Forecast: $ETH declines below $4,000, eyes 100-day SMA support:

Ethereum futures liquidations climbed to $431.5 million over the past 24 hours, with $401.8 million in liquidated long positions, per Coinglass data.

ETH dipped below the $4,000 psychological level on Thursday for the first time since August 8. The top altcoin is seeking support near the 100-day Simple Moving Average (SMA), a level that previously provided support during a weekend decline on June 22.

Bulls could initiate buy pressure around the 100-day SMA to regain control of the market, as evidenced by the brief recovery in ETH since approaching the level. However, a decline below the 100-day SMA could send ETH to the $3,500 support.

The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are around their oversold regions, indicating a dominant bearish momentum but with growing potential for a recovery.