$ETH below $2,400: Ansem's bear call meets his own "monetary asset" thesis
Ansem (@blknoiz06) made a sharp call on X on Oct 26: he's bearish $BTC and $ETH, arguing both broke their mid-timeframe trend and could accelerate lower under $82K and $2,400. A day later he added a more nuanced take: he sees ETH and SOL less as businesses valued on revenue and more as monetary assets tied to the growth of their ecosystems, which makes them hard for TradFi to value.
I think those two posts actually fit together. If ETH is priced like a monetary asset, it trades on belief and liquidity rather than earnings, so trend breaks can run further than "fundamentals" suggest, in both directions.
Where we are now on Binance: ETH is around $2,344, up about 0.7% in 24h, with a range of roughly $2,297 to $2,364. BTC sits near $80.7K. Both are under Ansem's lines, but not collapsing either.
What I'm watching:
- Can ETH reclaim $2,400 on the 4H? That would weaken the breakdown case.
- Does $2,300 hold as support? Losing it would back the bears.
- The Fed decision on Oct 28 (US time) could be the volatility trigger.
Patience over prediction here. #ETH #Ethereum #CryptoMarket #幣安神算子
Not financial advice.
Ansem (@blknoiz06) made a sharp call on X on Oct 26: he's bearish $BTC and $ETH, arguing both broke their mid-timeframe trend and could accelerate lower under $82K and $2,400. A day later he added a more nuanced take: he sees ETH and SOL less as businesses valued on revenue and more as monetary assets tied to the growth of their ecosystems, which makes them hard for TradFi to value.
I think those two posts actually fit together. If ETH is priced like a monetary asset, it trades on belief and liquidity rather than earnings, so trend breaks can run further than "fundamentals" suggest, in both directions.
Where we are now on Binance: ETH is around $2,344, up about 0.7% in 24h, with a range of roughly $2,297 to $2,364. BTC sits near $80.7K. Both are under Ansem's lines, but not collapsing either.
What I'm watching:
- Can ETH reclaim $2,400 on the 4H? That would weaken the breakdown case.
- Does $2,300 hold as support? Losing it would back the bears.
- The Fed decision on Oct 28 (US time) could be the volatility trigger.
Patience over prediction here. #ETH #Ethereum #CryptoMarket #幣安神算子
Not financial advice.
