Here's the situation: after a nice rise, Ethereum (ETH) is hitting a wall. Although it rose 3.5% in a day, experts are raising their eyebrows. An analyst, Markus Thielen, says that ETH's momentum is losing strength. It's like the rocket is running out of fuel just before reaching the moon. 🚀
The key? The 21-day moving average. That magic number, which is now around $4,355. It used to be a bulletproof level where big players and institutions would buy as if there were no tomorrow. But now, that 'buy the dip' energy is cooling down, and there's a vibe that sellers could take control. If that happens, the price could fall below that crucial level.
And to top it off, the derivatives market, where people leverage, had a brutal collapse. A 14% drop in a single day on Binance 😱. This isn't people selling for fun; it's a 'forced liquidation,' which means those betting on the rise had to let go of their coins by force. It's like being kicked out of a nightclub without warning. 🚪
What does all this mean? The party of leverage is over, and the sentiment of 'everything is going to rise' is deflating quickly. Now, ETH is on a tightrope, between $4,600 and $4,450. If sellers get aggressive, we could see the price hovering around $4,000. Watch out for that! 🕵️
Of course, not everything is pessimism. There are those who still dream of ETH at $10,000 by the end of the year. But before that epic rise, they say a dip could be the golden opportunity to jump back in.
In the end, the coin is in the air. ETH is at a crossroads, and what happens in the coming days will define its path. Will it be a dip to gain momentum or the beginning of a more serious decline? $ETH
