The negative effects of the trade war continue with the start of the new week.

Last week, the crypto side was not affected by the decline, but last night, with S&P 500 futures opening negatively once again, the crypto side could not hold on either.

Especially in #Ethereum and altcoins, the decline is felt much deeper. Most altcoins have even fallen below the level they were at when BTC was at 15k.

In previous weeks, I mentioned that Ethereum had lost its 3-year upward trend support. With the loss of this trend, altcoin declines have deepened a bit more.

After the trend loss, we have reached an important support level for the first time.

If daily and weekly closes do not occur below $1,500, this support could be a good reversal level. Due to the uncertainties on the global front, we should also follow the reversal of the S&P 500 while making trades.

To prevent further deepening of declines, it is extremely important to maintain the $1,500 support for altcoins. Let's closely monitor this support ⏰