🔥 Faith in Ethereum: Holding Longs in a Sea of Red?
I opened the charts this morning and saw Ethereum ($ETH ) down a blazing 7.18%—and my spirits sank a little too. What’s striking is that even as the price continues to drift down, as many as 80% of accounts in the market are still holding LONG positions. That’s a pretty impressive figure, showing that many people remain very confident in ETH.
Do they believe the network can make a strong recovery, or are they trying to catch the bottom, hoping ETH will bounce back soon? With every red candle, I imagine the heartbeats of Long traders speeding up a little. That mix of nervousness and hope feels very familiar to anyone who’s been involved in crypto for a while.
For informational purposes only; not investment advice. DYOR.
#ETH
I opened the charts this morning and saw Ethereum ($ETH ) down a blazing 7.18%—and my spirits sank a little too. What’s striking is that even as the price continues to drift down, as many as 80% of accounts in the market are still holding LONG positions. That’s a pretty impressive figure, showing that many people remain very confident in ETH.
Do they believe the network can make a strong recovery, or are they trying to catch the bottom, hoping ETH will bounce back soon? With every red candle, I imagine the heartbeats of Long traders speeding up a little. That mix of nervousness and hope feels very familiar to anyone who’s been involved in crypto for a while.
For informational purposes only; not investment advice. DYOR.
#ETH
