ETH fell more than 5% in 24 hours, dropping below the 2,600 mark. Longs have gone from “faith” to “doing penance.”
Positions opened between 2,600 and 2,700 are now all underwater, and morale has taken a serious hit. But look at the bigger picture: this looks more like a deep shakeout than a trend reversal—panic fuels the shakeout, and the harder the drop, the more coins people give up.
What you really need to watch out for isn’t paper losses, but high leverage: during a deep correction, it can liquidate even those who got the direction right.
Whether you can hold out for 3,000 depends not on determination, but on position management.
$ETH #ETH
Positions opened between 2,600 and 2,700 are now all underwater, and morale has taken a serious hit. But look at the bigger picture: this looks more like a deep shakeout than a trend reversal—panic fuels the shakeout, and the harder the drop, the more coins people give up.
What you really need to watch out for isn’t paper losses, but high leverage: during a deep correction, it can liquidate even those who got the direction right.
Whether you can hold out for 3,000 depends not on determination, but on position management.
$ETH #ETH