Nov. 15 (CandyPulse) — Two days after losing $2,000, Ethereum has dropped further. Ether fell below $1,850 on Saturday, reaching its lowest level since July, as weekend selling swept through crypto.
Key takeaways
| Item | Reading |
|---|---|
| Level broken | $1,850 |
| Reported price | About $1,826–$1,840 |
| Intraday low | Near $1,823 |
| Daily move | About −5.7% |
| Weekly move | About −18.2% |
| From September high ($2,807) | About −35% |
| Ethereum Foundation sales | 7,500 ETH, about $14.5 million, over four days |
Thin weekend trading. U.S. funds are closed at weekends, so a big source of buying is missing. Selling from the futures market hits harder.
Forced selling. More than a billion dollars of leveraged bets were closed automatically, almost all of them bets on a rise.
The Ethereum Foundation sold. The non-profit that supports Ethereum's development sold 7,500 ETH over four days. In money terms that's small, about $14.5 million against a market worth hundreds of billions. But the Foundation is closely watched, and its sales tend to hurt sentiment more than the size suggests. It sells regularly to fund its work, so this isn't a sign it has lost faith.
Bitcoin led the way. Bitcoin broke below $64,000 in the same move.
On Thursday we noted analysts' next zone below $2,000 was $1,800–$1,970 (that story). Ether is now inside it. The round number $1,800 is the level traders are watching most closely.
Scenarios, not predictions:
Ether has fallen about 35% from its September high, which sounds dramatic and is. It's also happened before: sharp falls are part of this market's history. The network itself is working normally, and long-term holders who stake their ether are, by the reports we've seen this week, mostly sitting tight.
If you hold ether, avoid decisions made in a panic and be careful with borrowed money. Our crypto glossary explains "staking", "liquidation" and "support". Follow updates on our Ethereum page.
Watch the $1,800 level, Monday's ether ETF flows, and whether the Ethereum Foundation continues selling.
More from today:
Track the market on our Bitcoin price today and crypto prices today pages, follow the Crypto News Today desk, and catch up every Sunday with CANDY Weekly.
Disclaimer: This article is for information only and is not financial advice. Market figures move quickly and different data providers can show slightly different numbers. Always do your own research before making any investment decision.
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