A low-volume decline, with buying completely dried up:
Look at the trading volume below. It was high around the previous peak near 2800, but during the current decline, although volume hasn’t surged, it has continued to contract.
This kind of “low-volume, slow decline” is the most frightening because it shows that no one is willing to step in and buy the dip at this level. With no buyers to absorb the selling, the price can only keep searching for a bottom.$ETH
Look at the trading volume below. It was high around the previous peak near 2800, but during the current decline, although volume hasn’t surged, it has continued to contract.
This kind of “low-volume, slow decline” is the most frightening because it shows that no one is willing to step in and buy the dip at this level. With no buyers to absorb the selling, the price can only keep searching for a bottom.$ETH