🚨 Madness in Ethereum (ETH)! Sharp drop and express recovery 📉📈
If you looked at the ETH/USDC 15m chart, it must have made your heart skip a beat. 😱 Ethereum suffered a sudden dump from $1990 to touch $1937.62 in minutes. However, the buying pressure was brutal: the bulls came in strong, leaving a huge lower wick and bouncing the price to the current $1982.72.
What causes this volatility today? 🧐
• Options expiration: The market continues to liquidate over-leveraged positions after the historic expiration on Friday.
• Pressure on ETFs: Recent million-dollar net outflows in spot ETFs drive caution and profit-taking.
• Technical barriers: The moving averages (25, 50, and 100) cluster above the price ($1992-$1997), acting as a strong immediate resistance.
⚖️ The Verdict: The quick rebound shows a strong appetite for buying below, but the short-term trend will remain weak unless we manage to break the psychological barrier of $2000.
💬 I open the debate! Did you take the opportunity to buy the dip or do you think we will test lower supports again? I’ll read you in the comments! 👇
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