Has Ethereum found its bottom?
Back on October 25, $ETH pointed to support at 1800–1980 and a liquidity zone at 1800–1870. On November 5, it hadn’t broken below 2174 and volume was low, so I thought selling pressure had eased—but I got optimistic too soon. There were sharp drops on November 8 and 10, and the price broke decisively below 2174. The rebound still lacks volume, and there’s no sign yet that the decline has stopped.
Also, MSCI will announce today whether it will remove MSTR. If it does, that will add another layer of pressure to the crypto market.
The price has now fallen as low as 2006, close to 1800–1980, with 1800–1870 not far off either. So I’m sticking with my earlier view: ETH could still fall further, into the 1800–1870 range.
Back on October 25, $ETH pointed to support at 1800–1980 and a liquidity zone at 1800–1870. On November 5, it hadn’t broken below 2174 and volume was low, so I thought selling pressure had eased—but I got optimistic too soon. There were sharp drops on November 8 and 10, and the price broke decisively below 2174. The rebound still lacks volume, and there’s no sign yet that the decline has stopped.
Also, MSCI will announce today whether it will remove MSTR. If it does, that will add another layer of pressure to the crypto market.
The price has now fallen as low as 2006, close to 1800–1980, with 1800–1870 not far off either. So I’m sticking with my earlier view: ETH could still fall further, into the 1800–1870 range.
