Ethereum plummeted 600 points to $ETH , Dogecoin teeters on the brink at 0.2
To be honest, this script is indeed a bit unexpected. The casual remark made during last week's livestream about starting the decline at 8 AM on Monday was just a joke, and I didn't expect it to be taken seriously yet again. This time, Ethereum took the lead in the decline. First, we will observe the indicators; the strong support at 3950 and 4000 remains unchanged, and there are currently 200 points as a buffer, which theoretically is sufficient. Options can be exercised on Friday to hedge 5000 for 7 days and 15 days, which corresponds to the end of August and mid-September.
Returning to the fundamentals, there are rumors in the market suggesting a deep bear signal, which seems a bit overly superstitious and creates unnecessary panic. In September and October, with favorable news, we could see a rally reminiscent of crows flying on planes — a spectacular performance! As for why I say this, altcoins have already dropped to the brink, and a 20% adjustment can be considered crucial; the probability of further decline is negligible. Therefore, spot holdings can be maintained, while those with long positions should consider protection or hedging instead.
