$ETH
It has fallen to around 2,000. What should I do?
ETH has dropped significantly over the past few days, and the market is broadly bearish, with many expecting a further sharp decline. Trading shouldn’t just follow price movements; market sentiment should also be taken into account.
On the daily chart, ETH previously saw a small rebound at the first support level. It has now reached the second support zone, but that doesn’t mean this is the bottom. However, bear in mind that when the market is overwhelmingly bearish and short positions have piled up, a halt in the price decline can trigger short covering and lead to a rebound.
ETH’s Glamsterdam upgrade is also still in progress. The external audit is expected to be released before November 16, and developers will discuss possible adjustments based on the audit results at their November 19 meeting. Whether this can become a positive catalyst remains to be seen.
It has fallen to around 2,000. What should I do?
ETH has dropped significantly over the past few days, and the market is broadly bearish, with many expecting a further sharp decline. Trading shouldn’t just follow price movements; market sentiment should also be taken into account.
On the daily chart, ETH previously saw a small rebound at the first support level. It has now reached the second support zone, but that doesn’t mean this is the bottom. However, bear in mind that when the market is overwhelmingly bearish and short positions have piled up, a halt in the price decline can trigger short covering and lead to a rebound.
ETH’s Glamsterdam upgrade is also still in progress. The external audit is expected to be released before November 16, and developers will discuss possible adjustments based on the audit results at their November 19 meeting. Whether this can become a positive catalyst remains to be seen.
