Analysis: ETH holds on to the critical area, and the next trend may affect Bitcoin

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Odaily2024/08/04 12:15

By:Odaily

Odaily News Michael van de Poppe, founder of MN Trading, said that Ethereum is holding a key support area. If this level cannot be maintained, it may have an impact of about 4% on the price and push Bitcoin further down to a range that traders cannot determine. Michael van de Poppe added that if ETH falls below support, Bitcoin may test $60,000, while Ethereum will test below $2,800. According to CoinGlass data, if ETH falls to $2,800, about $259.46 million in long positions will be liquidated. (Cointelegraph)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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