ETH falls below 2,300—first, ask who’s selling
Once a round-number level breaks, the feed fills with “support is gone” and “time to buy the dip.” I’d rather figure out whether leveraged positions are being liquidated, or spot holders are gradually selling.
My take: 2,300 looks more like a sentiment level. To tell whether support is real, watch for heavy buying after the price breaks below it. If it’s just a quick wick sweeping stop-losses, chasing either shorts or longs can mean catching a falling knife. Size your position based on how much drawdown you can tolerate—not on hot takes.
$ETH
Once a round-number level breaks, the feed fills with “support is gone” and “time to buy the dip.” I’d rather figure out whether leveraged positions are being liquidated, or spot holders are gradually selling.
My take: 2,300 looks more like a sentiment level. To tell whether support is real, watch for heavy buying after the price breaks below it. If it’s just a quick wick sweeping stop-losses, chasing either shorts or longs can mean catching a falling knife. Size your position based on how much drawdown you can tolerate—not on hot takes.
$ETH