First, the conclusion: it can be sold! It can also be kept!
Don't hit me first, give me a moment to explain the situation
Mainly we can observe the recent situation from the daily chart of ETH
What information can we observe from such a drop
Currently, ETH has returned above 2800
And we can see the key area in Figure 1 (the yellow area)
This is a very important watershed
A large number of orders have gathered at this position
In the early days, whenever the price reached 2800
Was suppressed down, indicating the holders at that time
Everyone thinks that at that time the position of 2800 is a
It's a very expensive price, so they are all willing to choose to sell at this position
So the natural price will fall to this position
But after three drops
Prices turned around on November 7
The price chose to break through the 2800 resistance point
Then the price just went all the way to 4200
The current price has returned to this level
But because of liquidity and confidence issues
ETH bottomed out at a price of 2086
We can find in Figure 2
This position is also another lifeline for ETH
If it really falls below, it returns to three-digit ETH
So it can be said that this drop of ETH
It really has washed many contract traders out of the market
It feels much lighter
But returning to the initial question
I would answer this depends on
What is your purchase price position
If it's below 2800
Now selling actually doesn't make much profit
It’s better to wait until it really breaks below 2200 before saying anything
It's a way of exchanging space for money
But if you buy above 2800
You just need to wait a moment
Because ETH is really too weak now
From my perspective
It may enter a large consolidation range
Often after such a drop
It needs a consolidation
Just imagine, after such a drop
And match it with a long-term sideways trend
How many retail investors or long-term investors will waver in their confidence
Only then might they let go of their chips
But if you, like me, don't have much ETH in hand
If you want to buy ETH
I hope you don't buy in now
We can see the location in Figure 1
There is a white trend line
This is a long-term suppressed line
The places that were tested have all risen
4 of them, so you need to make money quickly and safely
No matter what, we need to talk about breaking this trend line
Otherwise, will our money in hand bite flesh?
Summary
Now there is little chance for ETH to fall
The chance of rising is also not great
There is a great chance of sideways movement.
