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Ethereum Investors Must Consider This ‘Catch’ Before Going Short on ETH

1 min read Original Link
  • ETH’s press time market structure stood hounded by the bears
  • Immense selling pressure could push funding rates further into the negative territory  

Ethereum [ETH] broke through several support levels and plunged even lower as FUD spread around the alleged FTX exploiter dumping ETH for BTC. The alleged FTX exploiter sold 50,000 ETH for BTC over the weekend, knocking ETH off the $1,200 mark.

At press time, ETH, the altcoin king, was trading at $1,081, having lost the psychological limits of $1,200 and $1,100. Furthermore, if FUD continues to reign in the short term, ETH will see a deep plunge toward the $980 mark.

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