At this point, we may be in the “death or die” realm where we need to pay close attention.
Ethereum lost 15%, or $ 400, to start the session on Monday. The $ 2,300 level is an area where we are beginning to see buyers trying to get the market in the past. Therefore, it would be interesting to see if they can do it now. The fact that we are closed at the bottom of this candlestick shows that it is more likely that we will never keep looking at the downward pressure. At that point, the market may aim to reach the $ 2000 level.
The $ 2000 level is a major estimate that many pay close attention to and poses a considerable headline risk. If the $ 2000 level is breached, I think Trapdoor will be much cheaper and will eventually be able to enter what is commonly referred to as the “Cryptocurrency Winter”. In that scenario, the market is likely to see a lot of acceleration and therefore a large rewind of long positions.
It’s interesting to give up during the day, and making such a big candlestick suggests that many people will jump on the boat. It is important to note the fact that many institutions are involved in Ethereum and are suffering huge losses not only in this market but also in other markets. In the event of a total loss, these large funds often need to liquidate almost anything they can get. At that point, it’s trying to find a fragment of liquidity.
It is also worth noting that Bitcoin has completely disappeared during the day. Indeed, it looks like we’re relatively close to the start of another “Cryptocurrency Winter”.If you are a longer-term investor, you should have the opportunity to pick up Cryptography Not only at Ethereum, but at a much cheaper price. At this point, we may be in the “death or die” realm where we need to pay close attention. The rally at this point is likely to provide a fair amount of resistance that we can market, but I’m not interested in trying to lengthen Ethereum at this time.