# Ethereum’s spot setup looks grim, but derivatives data tells a different story
“# Ethereum’s spot setup looks grim, but derivatives data tells a different story ” Ether (ETH) price fell below the $3,000 support on Sept. 20 as global markets entered a risk-aversion mode. The Invesco China Technology ETF (CQQQ) closed down 4.2%, while the SPDR S&P Metals and Mining ETF (XME) lost 3.8%. Some analysts pointed…