Ethereum is testing a critical support level. If it breaks, the downside target is far lower than most expect, and the structural case for a recovery is weaker than it looks.
Ethereum Treasury companies are sitting on nearly $12 billion in paper losses on its Ethereum holdings, while ETF investors have consistently sold into the demand that Treasury companies created. Yet prices are still down 60%, suggesting a third, larger wave of sellers was quietly filling the gap throughout.
We identified Ethereum as the better short back in October, and that call has played out. Now $1,600 is the last line of defense. Below that level, the pain accelerates sharply, and in today's report, we explain exactly where the next major support lies.
We examine why the one force that has been holding Ethereum up is now stepping back, what that means for price, and how far this correction could ultimately run.
Ethereum is sitting on its last support - a break here implies a move to…
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