Ethereum (CRYPTO: ETH) is down 8% on the day to $3,020, leading analysts to discuss whether there is any bullish hope left for the second-largest cryptocurrency.
What Happened: Prominent whale trader Adam referred to Ethereum as a “cursed coin.”
Despite open interest rising by 110% since August, Ethereum never came closer than 20% below its all-time high.
The trader suggests two strategies for entering a long position:
Buy after a liquidation event below $3,000.
Place bids near $2,700, a key support level, if no liquidation event occurs.
Chart …Full story available on Benzinga.com