$ETH erased its entire week in one afternoon.
Price now: $2,227. Exactly 7 days ago: $2,229. Everything in between, including the Nov 4 breakout to $2,450, got handed back.
What the tape shows:
• 24h: -8.3%, range $2,206 – $2,435
• The damage came fast: the 15:00 UTC candle on Nov 5 alone dropped ~$92 on $201M volume, roughly 10x the average hour this week
• 24h volume $847M vs $733M the day before, so this was real selling, not a thin-book wick
• ETH/BTC -2.3%, so ETH underperformed $BTC on the way down too
• Price sits below the 20-day average (~$2,334)
Levels I'm watching:
$2,206 is the 7-day low, tested overnight and held so far. Lose it and the 30-day low near $2,174 is next. Above, $2,290–2,300 was the shelf before the breakout; reclaiming it would turn this into a failed breakdown instead of a failed breakout.
For now, it's a failed breakout. Bounce or more chop below $2,250?
Not financial advice.
#ETH #Ethereum #CryptoTrading
Price now: $2,227. Exactly 7 days ago: $2,229. Everything in between, including the Nov 4 breakout to $2,450, got handed back.
What the tape shows:
• 24h: -8.3%, range $2,206 – $2,435
• The damage came fast: the 15:00 UTC candle on Nov 5 alone dropped ~$92 on $201M volume, roughly 10x the average hour this week
• 24h volume $847M vs $733M the day before, so this was real selling, not a thin-book wick
• ETH/BTC -2.3%, so ETH underperformed $BTC on the way down too
• Price sits below the 20-day average (~$2,334)
Levels I'm watching:
$2,206 is the 7-day low, tested overnight and held so far. Lose it and the 30-day low near $2,174 is next. Above, $2,290–2,300 was the shelf before the breakout; reclaiming it would turn this into a failed breakdown instead of a failed breakout.
For now, it's a failed breakout. Bounce or more chop below $2,250?
Not financial advice.
#ETH #Ethereum #CryptoTrading
