ETH holding on by a thread hereYesterday we predicted that 0.02500 is a support, everyone who longed there could make nice profits closing between 2600 - 2700 and if followed me in "Bitcoin" chat room, could see my announcement that we are in no trend now and this is a chop zone. Buy 2500-2550, Sell 2600 - 2700. Turned out to be highly profitable.
Right now, it is best time to exit the longs if you haven't done so yet.
2650 was a "test zone". However, it met no support . Instead, manipulators abused thin order books and squeezed many shorters out. The whales do not want the "weak hands" to be onboard of the Titanic, because those take profits too early and would slow the dump.
Indicators not saying too much now, Ichimoku providing last support. Observing the price action at poloniex today, I saw manipulators taking advantage of thin order book, and moving price from 2600 to 2670 buy a single 1700 eth buy, which is very low. Then, they dumped into the panic buyers. No support provided at key points like 2650 or 2600.
This will sink, eventually, when enough weak hands have been shaken out.
