💥 Why Did #Ethereum Drop 5.89% Today?
🧩 A triple-threat combo hit $ETH hard:
📉 Tech Breakdown | Leverage Unwind | Market Weakness
🔹 1. Bearish Setup
⛔ Rejected at $3,940 resistance
📉 MACD histogram flipped negative (-19.82)
📉 RSI dropped from overbought 70 → 66.4
⚠️ Lost 23.6% Fib support at $3,572
🔹 2. Liquidation Cascade
💣 $1.79B in long liquidations over 24h
📈 Open interest surged 17.23% → more pain
🔁 Forced selling → lower price → more liquidations
🔹 3. Macro Drag
📊 Bitcoin dominance rose to 61.22%
📉 Spot volumes dropped 4.68%
😐 Fear & Greed Index fell from 62 to 57
📍 Next ETH support: $3,500
📉 Total crypto market cap: -3.83%
🧠 Will upcoming ETH ETFs attract enough institutional inflows to flip sentiment?
