The war in the Middle East ignites the ETH crash, is there a glimmer of hope in this crisis?
The fire in the Middle East has directly burned the cryptocurrency market! $ETH is now plummeting like a roller coaster, the crucial price level of $2700 has been shattered, how many leveraged traders in the market have been liquidated to the point of being left with nothing.
Now the technical indicators are all in the red, the MACD death cross is making people's scalps tingle, the green bars are getting longer and larger, and there's not even a decent support level to be found on the candlestick chart, looking down further, the historical bottom at $2400 seems as fragile as paper, it could be pierced at any moment!
But the more brutal it gets, the more one must keep a sharp eye on the trends!
The KDJ indicator has fallen into the oversold zone, indicating that the bearish momentum is nearing its limit.
What's even stranger is that despite the market's panic, the total locked value in DeFi has set a new high of $46.3 billion, and trading volume on Layer 2 networks has surged by 40%. These smart investors are frantically bottom-fishing while others are cutting losses, clearly waiting to make a big move!
In my opinion, this is a market where one licks blood off a knife's edge; optimistically, it’s the main players deliberately smashing prices to accumulate, pessimistically, it could be a bottomless pit. At this position, it’s either a historical bottom or an abyss, it all depends on whether you dare to stake your real money on your judgment!
The market has experienced a crash, and next, I will prepare to venture into potential coins. If you're confused and helpless, follow me; choice is greater than effort!
