‘Cursed Coin’ Ethereum Down 8%: What Is Going On?

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:

1. Buy after a liquidation event below $3,000.
2. Place bids near $2,700, a key support level, if no liquidation event occurs.

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Full story available on Benzinga.com