Eth has looked ready to collapse for over half a week but yet it has somehow held support every single time. Generally when levels are tested so many times they become weaker and weaker since there are less buy orders at those levels unless they are replaced and since people can only buy the dip so many times before they are no longer able to deploy a meaningful amount of capital. Combine this with uncertainty, fear, and bearish sentiment in the market and it only makes sense that a collapse should occur. However, since this scenario has yet to play out it begs the question as to how long it may be before it happens or whether it will happen at all as well as what is holding up the price? Perhaps institutions? If this bouncing off of support an endless number of times continues i may switch to a completely bullish outlook for the time being. Im curious about everyone elses thoughts as i really did think support would break by now.
