ETH Short Selling Frenzy?
Grayscale ETHE discount rate has skyrocketed to 30.1%, cutting losses until hands are sore! Trading volume has shrunk to a "dried corpse", with actual transactions only at 32.85 million, just 31.6% of the estimated — this market is as cold as an ice cellar!
The technical side is even more dire: MA5 and MA10 dual lines pressing down, 21.8 million becomes the ceiling for rebounds, 116 million is a heavy burden, and the bulls don't even get a chance to catch their breath! The MACD bars are ominously dropping, the DIF fast line is plummeting dramatically, and the DEA slow line is in free fall; this is not technical analysis! It’s clearly the trajectory of a short-selling bomber diving! Can ETH still hold up?
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