What to expect from #Ethereum , which, even with signs of approval from the ETF, continues to retreat back to support from weeks ago?
$ETH is within a Fibonacci retracement, as we can see in the image.
It reached its 100%, retreated until the loss of its important support and reacted to 61.8%, yes, that is the Fibonacci retracement.
Remembering that Ethereum is the whale's crypto, with its high fees, it has already been suffering from the put option, which seems to no longer be just for its whales, and this could drop the price to the lows of recent weeks, before the news of approval in the investigations that lead the crypto to the ETF.
Addresses that store between 100,000 and 1 million ETH have already sold around 700 million ETH in the last two weeks.
However, the indicator still shows that the percentage of users making profits is still above 25%, which means that the Holders' desire to sell is minimal, as they will want to continue making profits until a more robust drop signal. 🤟🏽
