14.11.22 - 21.11.22
Last week results
Instruments:
Last week was one of the worst weeks in the last 3 months. We can also say that the market was manipulated and a ‘’power struggle ‘’ in the Exchanges world has occurred. We have seen BTC and some Altcoins coming down to an all-time low. Some of them even returned to last summer's pricing. The bear market is still with us. However, something interesting happened. A lot of traders expected Ethereum to fall under the $ 1000 mark and reach $700.
Why did the market go down? :
▶️ Democrats won the elections ( some say they are not crypto-oriented as the Republicans).
▶️ The FTX drama, and the possible bankruptcy of the 3rd largest CEX.
▶️ The manipulation behind the FTX fall ( rumors say that Binance manipulated the market in order to get word Monopol ).
These week’s key events
Last week was one of the worst weeks in the last 3 months. We can also say that the market was manipulated and a ‘’power struggle ‘’ in the Exchanges world has occurred. We have seen BTC and some Altcoins coming down to an all-time low. Some of them even returned to last summer's pricing. The bear market is still with us. However, something interesting happened. A lot of traders expected Ethereum to fall under the $ 1000 mark and reach $700.
Why did the market go down? :
▶️ Democrats won the elections ( some say they are not crypto-oriented as the Republicans).
▶️ The FTX drama, and the possible bankruptcy of the 3rd largest CEX.
▶️ The manipulation behind the FTX fall ( rumors say that Binance manipulated the market in order to get word Monopol ).
📈 Is ETH doing better than BTC?
A lot of traders expected EHT under $ 1000, this has not happened, the lowest was $ 1100 and $ 1175. Our Strom Gain analysts indicated that ETH will reach $ 800 / $ 880 ( the All time low from last summer ) only if BTC will reach $12,000 or $ 13,000.
💡 3 reasons to buy ETH now:
🔹 The ETH merge had its first ‘’test’’. A lot of ETH is staked and the price cannot be manipulated as it was 1 or 2 years ago.
🔹 ETH’s team has prepared more interesting tech development for the near future.
🔹 The number of stake validators is at an all-time high. Active validators are validators that have completed the activation queue, are not in an exit queue, and have effective balances greater than 32 ETH.
Ethereum: Active Validators
🔹 Technical analysis: Today ( Monday ) we had seen a support test at 1175$ and from the looks of it, represents a higher bottom.
🔹 We can open a long position at $1,280 and set the Take Profit level to $1,338, then remove it and aim for $1388, placing a Stop Loss at $1,238.
🔹If the price continues to drop, make sure to re-initiate your long position from $1,226 using the levels above as Take Profit.
❗️ Use this opportunity to make the right decision.
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