$ETH broke the 2,174 floor on Sunday and is at its lowest since Aug 19 📉
Binance spot: ETH fell 5.0% on Nov 8 (2,240 to 2,127), with a low of 2,060. It traded at 2,107 at 3:40 p.m. PKT, Nov 9. ETH/BTC slid from 0.0295 to 0.0284, back at the Oct 30 low zone (0.02835).
CoinGlass data via ETHNews shows about $492M of ETH liquidations in 24 hours, roughly 92% of it longs. That is more than BTC's $298M.
Floor: 2,060, then the August low near 1,906.
Ceiling: 2,206 (the Nov 5 low, now resistance), then 2,318.
My view: bearish below 2,206. A daily close back above it would put the breakdown in doubt.
Does ETH reclaim 2,206 first, or lose 2,060? 👇
#Ethereum #TechnicalAnalysis
Binance spot: ETH fell 5.0% on Nov 8 (2,240 to 2,127), with a low of 2,060. It traded at 2,107 at 3:40 p.m. PKT, Nov 9. ETH/BTC slid from 0.0295 to 0.0284, back at the Oct 30 low zone (0.02835).
CoinGlass data via ETHNews shows about $492M of ETH liquidations in 24 hours, roughly 92% of it longs. That is more than BTC's $298M.
Floor: 2,060, then the August low near 1,906.
Ceiling: 2,206 (the Nov 5 low, now resistance), then 2,318.
My view: bearish below 2,206. A daily close back above it would put the breakdown in doubt.
Does ETH reclaim 2,206 first, or lose 2,060? 👇
#Ethereum #TechnicalAnalysis