Ethereum Down 22% In One Month, But Top Trader Sees 'A Hated Rally' On The Horizon
Portfolio Pulse from Khyathi Dalal
Ethereum has seen a 22% decline in the past month, but trader Eugene Ng Ah Sio anticipates a potential rally. Despite disappointing Ethereum ETF flows, the negative sentiment and whale capitulation suggest a low positioning for Ethereum, which could lead to a rally. The lack of a Solana ETF and potential unwinding of SOL positions may also shift market dynamics in Ethereum's favor.
August 23, 2024 | 5:28 pm
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Ethereum has declined 22% in the past month, but a potential rally is anticipated due to negative sentiment and whale capitulation. The disappointing Ethereum ETF flows and lack of a Solana ETF could shift market dynamics in Ethereum's favor.
Ethereum's current low positioning due to negative sentiment and whale capitulation suggests a potential rally. The disappointing Ethereum ETF flows and the absence of a Solana ETF could lead to a shift in market dynamics, favoring Ethereum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100