Looking at today’s chart on Ethereum, the market feels divided. Some are eyeing $6K if ETF inflows continue to build, while others warn of a pullback toward $4.2K with leverage piling up. Institutions seem to be accumulating, but whale selling is keeping things a bit bearish feels like a real tug of war.
There are side plays popping up across chains like launchpads and AMMs on Solana but ETH still feels like the main scene of attraction rn.
Do you think Ethereum holds strong here, or are we setting up for another shakeout before the next run ?
That is normal, we can't expect ETH to go up for as high as it can. The market is a bit bearish currently but looking at the zooming out chart, is it really bearish? but if we are going to conclude it, this is just a correction that has to happen. Still, if you are shaken out of what's happening to it. It's because that the first move was done by bitcoin and from the $120k+ mark, it's now down by almost 10% and it's likely to go down for more. But are we going to be disappointed with that? maybe but, those who haven't accumulated a lot yet, you should keep an eye to the market.
True, ETH moves slower when BTC sets the pace. But I’m noticing side projects like Light building during this phase too. Not saying it will moon, but it’s interesting to keep smaller plays working in the background