📉 Evening Drop for Ethereum 🔻
As evening approaches, we have witnessed a sharp correction for Ethereum of 3%, with the price falling below $4,500!
More importantly, all of this happened amidst sideways movement for Bitcoin.
The reason is very simple: there was excessive concentration in long positions on the asset at that moment, creating a large liquidity pool below, prompting the price to move to collect it.
Now, the important thing is a quick rebound and a return above the $4,500 level. If that doesn't happen, we could see a deeper retracement