Ethereum’s price has dropped to a key technical support level as market sentiment weakens, reflected in a falling funding rate and a spike in liquidations. The decline in funding suggests traders are reducing leveraged long positions or turning more cautious in the short term. At the same time, rising liquidations indicate increased volatility, with overleveraged positions being forced out as prices move lower. Analysts say holding above this support could stabilize price action, while a breakdown may trigger further downside pressure amid broader crypto market uncertainty.