$ETH is hovering around 1900 now, and honestly, it’s a little hard to watch.
It has a shadow-like relationship with $BTC —when it rises, it jumps a bit higher; when it falls, it drops even harder. That’s been especially obvious over the past couple of days: as soon as $BTC softens a little, ETH immediately slides. There haven’t been any independent positive catalysts lately either; it’s basically living and dying by the big brother’s mood.
The data hasn’t helped: spot ETFs have seen steady outflows, there’s no sign of institutions being willing to come back, and on-chain activity is quiet. As for rebounds, they fizzle out almost as soon as they start—there’s no follow-through.
Looking at the levels, 1960 is the first hurdle on the way up. It would need to break above 2030 on strong volume to catch its breath, and we’re nowhere near that yet. On the downside, 1870 has held a few times recently; if that gives way, 1820 will probably be next.
So I’m not in a hurry. I’ve already kept my position in check, and I can’t be bothered to pay much attention to those little moves where it dips and bounces right back. I’ll wait for $BTC to stabilize first, then see if ETH shows any clear signs of bottoming.
It has a shadow-like relationship with $BTC —when it rises, it jumps a bit higher; when it falls, it drops even harder. That’s been especially obvious over the past couple of days: as soon as $BTC softens a little, ETH immediately slides. There haven’t been any independent positive catalysts lately either; it’s basically living and dying by the big brother’s mood.
The data hasn’t helped: spot ETFs have seen steady outflows, there’s no sign of institutions being willing to come back, and on-chain activity is quiet. As for rebounds, they fizzle out almost as soon as they start—there’s no follow-through.
Looking at the levels, 1960 is the first hurdle on the way up. It would need to break above 2030 on strong volume to catch its breath, and we’re nowhere near that yet. On the downside, 1870 has held a few times recently; if that gives way, 1820 will probably be next.
So I’m not in a hurry. I’ve already kept my position in check, and I can’t be bothered to pay much attention to those little moves where it dips and bounces right back. I’ll wait for $BTC to stabilize first, then see if ETH shows any clear signs of bottoming.