RATE Group | Is 100$ per ETH just around the corner?
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Is 100$ per ETH just around the corner?

21 Nov Is 100$ per ETH just around the corner?

Posted at 19:25h in Ethereum News by

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The market is going through a massive decline, and the current value of the total crypto market is below $150 billion.

The bears took total control over the market and pushed the price of Bitcoin to a price as low as $4,000-$4,200 (depends on the exchange you are looking at).

This is a 30% drop in just a few days.

This plummet was most likely triggered by the massive triangle formation that would have been seen on the daily chart for months. The time it takes to develop these types of consolidations directly affects the number of limit orders that are being set below or above the formation breakup points, and the more orders that are set at these breaking points a stronger rally is triggered.

When these types of consolidations break, all traders join the same side.

– If the formation breaks to the low:

Short limit orders are triggered + ongoing long positions stop-losses are triggered, which adds more wood to the fire.

– If the formation breaks to the upper side:

Long limit orders are…

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