Is the Ether 4000 defense battle the last enter a position opportunity for ETH?

Ether faces a battle to defend the 4,000 mark, with ETH rapidly falling after 12 o'clock Taiwan time, dropping below the psychological level of 4,000 USD, which is also an important neckline position in recent times. The breach of technical support has led to the liquidation of ETH positions worth up to 144 million USD within just 4 hours, continuing to drive the price drops of short positions.

Ether ETF has seen net outflows for three consecutive days.

Ether spot ETF has seen a net outflow for three consecutive days since 9/22, with a total outflow of 296 million USD over the three days.

The SEC's new universal listing standards make it easier for more cryptocurrencies to be held by investors through ETFs. Following Grayscale, Hashdex's Nasdaq Crypto Index US ETF has also been approved under the SEC's new universal listing standards. This product will be able to hold cryptocurrencies other than BTC and ETH, including XRP, SOL, and XLM.

(The SEC has approved general listing standards for ETFs, Bloomberg analysts: there may be hundreds of crypto ETFs listed in the next year )

This move may crowd out the existing funds of Bitcoin and Ether ETFs.

ETH breaks through the important neckline support, is the long-short tug-of-war the last opportunity to get on board?

Ether is facing a defense battle at the 4,000 level, quickly falling after 12 o'clock Taiwan time, breaking through the psychological barrier of 4,000 USD, which is also an important neckline position recently. The breach of technical support has also led to the liquidation of up to 144 million USD in ETH positions within just 4 hours, continuing to drive the short positions' price drops.

Legendary trader Eugene recently warned that crypto assets may gradually decouple from traditional risk markets, predicting that Ether will fall to $3,400. However, some traders believe that after a mean reversion, low indicators have emerged, and that it will return to a bull market season in the future.

( Trader Eugene warns: market buying pressure is weak, BTC and ETH are likely to fall to $100,000 and $3,400 respectively )

This article "Is the Ether 4,000 Defense Battle the Last Opportunity to Get on the ETH Train?" first appeared in Chain News ABMedia.