At this point, it’s very likely that the Ethereum market is going to fall right along with the rest of the risk appetite assets, as there are a lot of concerns when it comes to the global economy, and of course, a lot of institutional money is currently in the Ethereum market, so if they decide to leave, it causes a bit of a vacuum.
- Ethereum has dropped during trading on Thursday as the risk appetite of traders continues to deteriorate.
- It looks as if the $1500 level will continue to be a little bit of a magnet for the price, but at the end of the day we have sliced through it before, and based upon the size of this candlestick, it looks like we probably will again.
- After all, this is a classic “sell the news” type of situation, and therefore it should be treated as such.