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Four reasons why Ethereum did not fall below $3K, and probably won’t
Ether’s latest sell-off was stopped at $3,000, as bulls aggressively defended this level. ETH has since recovered to current levels above $3,300, increasing the odds that the price was unlikely to drop lower, backed by several onchain and technical data. On-chain data reveals that Ether’s Spent Output Profit Ratio (SOPR) has dropped to 0.96, suggesting ETH investors are selling at a loss. This implies that the ongoing correction in ETH price is driven by traders realizing losses amid panic and extreme fear. SOPR measures the profit or loss of spent ETH outputs by comparing the value of coins when they were last ... (full story)
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