‘Cursed Coin’ Ethereum Down 8%: What Is Going On?
Posted On January 13, 2025
Ethereum (CRYPTO: ETH) is down 8% on the day to $3,020, leading analysts to discuss whether there is any bullish hope left for the second-largest cryptocurrency.
What Happened: Prominent whale trader Adam referred to Ethereum as a “cursed coin.”
Despite open interest rising by 110% since August, Ethereum never came closer than 20% below its all-time high.
The trader suggests two strategies for entering a long position:
- Buy after a liquidation event below $3,000.
- Place bids near $2,700, a key support level, if no liquidation event occurs.
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