Longs are still paying to hold $ETH while it bleeds — and Monday brings the verdict on its next upgrade.
ETH sits at $1,900 (Finnhub, 09:22 UTC), down 1.8% today after tagging $1,878. Five sessions are -11%, and RSI is 23.4 — oversold (CoinEye, 06:15 UTC), but oversold is not a floor.
Here is what the chart hides: $172M of ETH was liquidated in 24 hours, 68.6% of it longs (168qixie, 06:23 UTC). Open interest is still $22.46B, funding still positive at +0.0018% per 8 hours, and 76% of accounts are long. Longs are paying shorts to stay in a falling market — a crowded trade, and crowded longs feed the next flush if $1,878 breaks.
Monday 16 Nov is the swing factor: auditors present the Glamsterdam findings in an open Q&A, and the Hoodi testnet fork is still delayed over gas changes (EIP-8037/8038) that four deployed contracts could break under. A clean review lifts the upgrade story; a messy one hands sellers a fresh excuse.
My stance: cautious, leaning weak under $1,936, with $BTC near $67,000 setting the mood. If $1,878 holds, the bounce targets $1,936, then $1,989. If it breaks on the daily close, $1,859 is next, then $1,813. A daily close under $1,878 proves this view wrong.
Monday's findings — do they lift $ETH back over $1,936, or does $1,878 break first? Drop your number.
Not financial advice. DYOR.
#Ethereum #Glamsterdam #ETH
ETH sits at $1,900 (Finnhub, 09:22 UTC), down 1.8% today after tagging $1,878. Five sessions are -11%, and RSI is 23.4 — oversold (CoinEye, 06:15 UTC), but oversold is not a floor.
Here is what the chart hides: $172M of ETH was liquidated in 24 hours, 68.6% of it longs (168qixie, 06:23 UTC). Open interest is still $22.46B, funding still positive at +0.0018% per 8 hours, and 76% of accounts are long. Longs are paying shorts to stay in a falling market — a crowded trade, and crowded longs feed the next flush if $1,878 breaks.
Monday 16 Nov is the swing factor: auditors present the Glamsterdam findings in an open Q&A, and the Hoodi testnet fork is still delayed over gas changes (EIP-8037/8038) that four deployed contracts could break under. A clean review lifts the upgrade story; a messy one hands sellers a fresh excuse.
My stance: cautious, leaning weak under $1,936, with $BTC near $67,000 setting the mood. If $1,878 holds, the bounce targets $1,936, then $1,989. If it breaks on the daily close, $1,859 is next, then $1,813. A daily close under $1,878 proves this view wrong.
Monday's findings — do they lift $ETH back over $1,936, or does $1,878 break first? Drop your number.
Not financial advice. DYOR.
#Ethereum #Glamsterdam #ETH
