ETH was the most liquidated asset last night — $449 million, nearly double BTC — and that’s no coincidence.
Context: ETH fell 5.04% on Sunday, closing at $2,124, and broke through October’s floor at $2,170 (thecryptobasic, Nov 9). The daily RSI dropped to 33 and the 4-hour RSI fell below 30 — oversold, but with no confirmed reversal yet. CoinGlass data (Nov 9): 24-hour ETH liquidations totaled $449 million, 91.8% of them longs, including one $48.16 million long position that was wiped out. Spot ETH ETFs also saw $365.2 million in outflows last week — their sixth consecutive week of outflows (Farside). The price is now around $2,122, still below the floor it just broke through.
Bullish scenario: A 4-hour close back above $2,170 would reclaim October’s floor and open the way to $2,243.
Bearish scenario: Failure to hold $2,081 (today’s low) would open the way to the flush low at $2,059, then $2,000.
My takeaway: I’ll wait for a clear 4-hour close above $2,170 before judging that ETH has stopped falling — and tomorrow’s US CPI release at 20:30 WIB could change the picture in an instant.
This is my analysis, not financial advice — always DYOR.
What do you think: Is ETH being the most liquidated asset a sign that ETH speculators have had enough, or are the liquidations not over yet?
#Ethereum #AnalisisCrypto $ETH
Context: ETH fell 5.04% on Sunday, closing at $2,124, and broke through October’s floor at $2,170 (thecryptobasic, Nov 9). The daily RSI dropped to 33 and the 4-hour RSI fell below 30 — oversold, but with no confirmed reversal yet. CoinGlass data (Nov 9): 24-hour ETH liquidations totaled $449 million, 91.8% of them longs, including one $48.16 million long position that was wiped out. Spot ETH ETFs also saw $365.2 million in outflows last week — their sixth consecutive week of outflows (Farside). The price is now around $2,122, still below the floor it just broke through.
Bullish scenario: A 4-hour close back above $2,170 would reclaim October’s floor and open the way to $2,243.
Bearish scenario: Failure to hold $2,081 (today’s low) would open the way to the flush low at $2,059, then $2,000.
My takeaway: I’ll wait for a clear 4-hour close above $2,170 before judging that ETH has stopped falling — and tomorrow’s US CPI release at 20:30 WIB could change the picture in an instant.
This is my analysis, not financial advice — always DYOR.
What do you think: Is ETH being the most liquidated asset a sign that ETH speculators have had enough, or are the liquidations not over yet?
#Ethereum #AnalisisCrypto $ETH