Tom Lee tips lack of leverage and gold ‘vortex’ for Ether’s 21% slump

💡 DMK Insight

Ether’s drop to $2,273.94 despite solid fundamentals signals a cautious market. With leverage absent, traders are likely prioritizing safer assets like precious metals, which could indicate a risk-off sentiment. This shift suggests that many are waiting for clearer bullish signals before committing to crypto positions. For traders, this means monitoring ETH’s support levels closely; a break below $2,250 could trigger further selling pressure. Conversely, if ETH can reclaim the $2,300 mark, it might attract buyers looking for a rebound. Keep an eye on the broader market trends and sentiment shifts, as they could impact ETH’s performance in the coming days. Also, watch for any changes in leverage ratios, as increased leverage could signal a return of risk appetite among traders.