Today, the Ethereum market has experienced significant fluctuations, attracting widespread attention from investors regarding its price trend. Meanwhile, Bitcoin has reached an important support level near 109000, which is precisely the point where it previously halted after breaking through the 100,000 mark for the first time. Currently, the market is generally focused on whether this dip will also come to a stop here.

It is worth noting that the dip in Ethereum is more pronounced than that of Bitcoin. This round of decline has broken through previous resistance levels of the same scale, reaching lower support levels. However, this support position often triggers a strong rebound, combined with the potential synergistic support effect of Bitcoin, there is a potential possibility for Ethereum to bottom out and recover.

However, if Ethereum fails to stabilize at the current position, it may further dip to around 4080, forming a double bottom pattern. This key price level will become an important indicator for determining short-term trends.

Currently, the cryptocurrency market is in a sensitive period, and investors need to closely monitor the interactions of various coins and changes in technical indicators. As the second largest cryptocurrency by market capitalization, Ethereum's price trend not only affects itself but may also trigger a chain reaction throughout the entire crypto ecosystem.

In this market environment, investors should remain rational, comprehensively consider various factors, and formulate appropriate investment strategies. At the same time, they should also be vigilant about market uncertainties and manage risks effectively. The future direction of the cryptocurrency market still requires further observation and analysis.