$ETH just printed its lowest price in 30 days, and it did it in a single 4-hour candle.
After two days of dead-flat chop around 2,240, the Nov 8 20:00 UTC candle wicked from 2,232 down to 2,060. That one candle traded about $320M, versus roughly $20M on each of the quiet candles before it. That's real selling, not a thin-book glitch.
Where it stands now:
• Price ~2,113, down 5.4% in 24h
• 24h range: 2,060 – 2,246
• 7-day high was 2,450, so ETH has given back ~14% from there
• 30 days ago it was near 2,497
• ETH/BTC down 3.5% to 0.02844, so it's weaker than BTC too
The good part: buyers did step in at 2,060 and the wick is long. The not-so-good part: the bounce stalled under 2,160 and the last two candles are drifting lower again.
Levels I'm watching: 2,060 is the line. Lose it on a close and the 30-day low turns into a fresh breakdown. Reclaim 2,240 (the old range floor) and this looks more like a flush than a trend change.
Wick to buy or first crack of something bigger? What's your read?
Not financial advice.
#ETH #Ethereum #CryptoMarket
After two days of dead-flat chop around 2,240, the Nov 8 20:00 UTC candle wicked from 2,232 down to 2,060. That one candle traded about $320M, versus roughly $20M on each of the quiet candles before it. That's real selling, not a thin-book glitch.
Where it stands now:
• Price ~2,113, down 5.4% in 24h
• 24h range: 2,060 – 2,246
• 7-day high was 2,450, so ETH has given back ~14% from there
• 30 days ago it was near 2,497
• ETH/BTC down 3.5% to 0.02844, so it's weaker than BTC too
The good part: buyers did step in at 2,060 and the wick is long. The not-so-good part: the bounce stalled under 2,160 and the last two candles are drifting lower again.
Levels I'm watching: 2,060 is the line. Lose it on a close and the 30-day low turns into a fresh breakdown. Reclaim 2,240 (the old range floor) and this looks more like a flush than a trend change.
Wick to buy or first crack of something bigger? What's your read?
Not financial advice.
#ETH #Ethereum #CryptoMarket
