Ethereum faced a battle to defend its $4,000 barrier. ETH's price plummeted after 12:00 PM (Taiwan time), breaking below the crucial $4,000 level, a key recent neckline. This break in technical support led to the liquidation of $144 million in ETH positions within just four hours, further fueling a downward trend in short positions.
Ethereum ETF has seen net outflows for three consecutive days
Ethereum spot ETF has experienced net outflows for three consecutive days since September 22, with a total outflow of US$296 million in three days.
The SEC's new universal listing standards make it easier for investors to hold more cryptocurrencies through ETFs. Following Grayscale, the Hashdex Nasdaq Crypto Index US ETF was also approved based on the SEC's new universal listing standards. This product will be able to hold crypto assets other than BTC and ETH, including XRP, SOL, and XLM.
This move could potentially crowd out funds from existing Bitcoin and Ethereum ETFs.
ETH fell below the important neckline support. Is the bull-bear tug-of-war the last chance to buy in?
Ethereum faced a battle to defend the $4,000 mark, falling rapidly after 12:00 PM (Taiwan time), breaking below the psychologically important $4,000 level, a key recent neckline. This break in technical support led to the liquidation of $144 million in ETH positions in just four hours, further fueling the bearish trend.
Legendary trader Eugene recently warned that crypto assets could gradually decouple from traditional risk markets, predicting a drop to $3,400 for Ether. However, some traders believe that a lower level has emerged after a mean reversion, signaling a return to a bull market.
(Trader Eugene warned: Market buying is weak, BTC and ETH may fall to $100,000 and $3,400 )
The article " The Battle to Defend Ethereum at $4,000: Is This the Last Chance to Buy ETH?" originally appeared on ABMedia ABMedia .
