On October 9, the daily candle for Ethereum ETH closed at 2505.0, while the previous day’s low of 2474.8 fell below 2500. This wasn’t the first time the line had been crossed—the previous time was October 7, and before that, sometime in September. It took two consecutive daily closes below the line before price reclaimed it on the 9th. Each time, the depth of the move and the time spent below the line were different.
Here are the four assets, ranked by their one-day returns: Ethereum ETH was up 1.2% for the day and down 6.1% over seven days; Bitcoin was up 1.8% for the day and down 1.5% over seven days; Solana was up 1.3% for the day and down 6.4% over seven days; Ripple was up 1.3% for the day and down 5.8% over seven days. All four moved in the same direction on the day. Over seven days, Bitcoin was the only one at -1.5%; the other three were all around -6%. The 2500 line is a meaningful marker only for Ethereum. For Bitcoin, it is a distant figure below the price; for Solana and Ripple, it isn’t even a round-number threshold.
What shifted was trading volume. Ethereum’s volume fell from 520 million on October 8 to 150 million on October 9, a difference of 370 million. Bitcoin’s fell from 1.17 billion on October 8 to 380 million on October 9, a difference of 790 million. Solana’s figures were 130 million and 40 million, a difference of 90 million; Ripple’s were 40 million and 20 million, a difference of 20 million. The asset with the biggest drop in volume had the shallowest price decline, so the two sets of readings don’t line up. Trading volumes across the four assets also differ in scale, and even the three with similar price declines have different volumes.
I rearranged the figures this way: on October 7, Ethereum opened at 2697.7 and closed at 2574.4, a 4.6% daily decline—the steepest of the seven-day period. On October 8, it opened at 2574.4 and closed at 2474.8, falling another 3.9%. The two-day decline totaled 8.4%, while trading volume rose from 490 million to 520 million. On October 9, the price rebounded 1.2%, but trading volume shrank to 150 million. The direction reversed, but volume did not.
What determines the significance of this line is how many times it is crossed and how long the price stays beyond it. If the next move below 2500 comes with volume under half of October 8’s and lasts for more than three daily candles, that would suggest support is weakening, and I’d have to revise my reading of “repeated tests” as “gradual failure.” If each move below the line comes with rising volume, while volume contracts during rebounds, the line is holding. You can count how many times the line has been crossed and how long price stayed beyond it by reviewing each daily candle for Ethereum ETH on Binance. The day’s highs, lows, and trading volume are all shown there; check the figures yourself. This article records an opinion and does not constitute investment advice. $ZEC
$NEAR
$SOL
#以太坊升破2500美元
Here are the four assets, ranked by their one-day returns: Ethereum ETH was up 1.2% for the day and down 6.1% over seven days; Bitcoin was up 1.8% for the day and down 1.5% over seven days; Solana was up 1.3% for the day and down 6.4% over seven days; Ripple was up 1.3% for the day and down 5.8% over seven days. All four moved in the same direction on the day. Over seven days, Bitcoin was the only one at -1.5%; the other three were all around -6%. The 2500 line is a meaningful marker only for Ethereum. For Bitcoin, it is a distant figure below the price; for Solana and Ripple, it isn’t even a round-number threshold.
What shifted was trading volume. Ethereum’s volume fell from 520 million on October 8 to 150 million on October 9, a difference of 370 million. Bitcoin’s fell from 1.17 billion on October 8 to 380 million on October 9, a difference of 790 million. Solana’s figures were 130 million and 40 million, a difference of 90 million; Ripple’s were 40 million and 20 million, a difference of 20 million. The asset with the biggest drop in volume had the shallowest price decline, so the two sets of readings don’t line up. Trading volumes across the four assets also differ in scale, and even the three with similar price declines have different volumes.
I rearranged the figures this way: on October 7, Ethereum opened at 2697.7 and closed at 2574.4, a 4.6% daily decline—the steepest of the seven-day period. On October 8, it opened at 2574.4 and closed at 2474.8, falling another 3.9%. The two-day decline totaled 8.4%, while trading volume rose from 490 million to 520 million. On October 9, the price rebounded 1.2%, but trading volume shrank to 150 million. The direction reversed, but volume did not.
What determines the significance of this line is how many times it is crossed and how long the price stays beyond it. If the next move below 2500 comes with volume under half of October 8’s and lasts for more than three daily candles, that would suggest support is weakening, and I’d have to revise my reading of “repeated tests” as “gradual failure.” If each move below the line comes with rising volume, while volume contracts during rebounds, the line is holding. You can count how many times the line has been crossed and how long price stayed beyond it by reviewing each daily candle for Ethereum ETH on Binance. The day’s highs, lows, and trading volume are all shown there; check the figures yourself. This article records an opinion and does not constitute investment advice. $ZEC
$NEAR
$SOL
#以太坊升破2500美元