"The market volatility continues as Ethereum ($ETH) officially broke below the critical $2,200 psychological level. Currently trading at $2,199.01, ETH has seen a sharp 10.00% decrease within the last 24 hours.
Key Observations:
Support Breach: Breaking the $2,200 mark often triggers automated sell-offs and liquidations, which explains the narrowed downward pressure.
The 10% Rule: A double-digit drop in 24 hours often leads to an 'oversold' condition on the RSI, potentially setting the stage for a relief bounce.
Market Correlation: As $ETH tests these lows, all eyes are on $BTC to see if the entire market will follow or if Ethereum will find local support here.
Trader’s Mindset:
Panic is the enemy of profit. While the dip looks deep, smart money often looks for 'Value Zones' in these crashes. However, wait for a candle close back above $2,200 to confirm a 'Fake-out' before jumping in long.
Stay disciplined. Trade the trend, not the emotion.
#Ethereum #CryptoCrash #MarketUpdate #BinanceSquare #ETHUpdate