The number of open short positions on the Ethereum peaked. Look forward to the fall?

On Friday, the stock market has recovered somewhat from the fall, which took place two days earlier. We will remind, on Tuesday due to a draining of the Bitcoin fell to $ 6,100, and almost all of the top altcoins have lost at least 10 percent of its value.

At the moment, Bitcoin is trading around 6300 dollars, bitcoin is almost not increased since yesterday. But the Ripple well rolled, the coin went up by almost 4 per cent to 0.42 per dollar. However, most attention is now drawn to Ethereum, because the amount of open short positions on this asset has reached its historical maximum on one of the main kryptomere.

When stop the drop Ethereum?

Earlier in the Internet appeared the hearing, if the fall of the stock market is associated with the acute situation on the stock exchanges of the USA. However, the analyst Element Digital Asset Management Hajus Naval not agree with this idea.

There is a rumor that the stock market falls along with the traditional markets, which are now in a stage of correction. We believe the price movement of Bitcoin has nothing to do with it.

The last plums of the Ethereum sent a coin below $ 200, but the bears failed to hold this point. Now the asset barely teetering on the psychologically important level of support. Looks like most traders have no confidence in the project Vitalik Buterin — they put on the continued fall of the ETH.

According to the stock exchange Bitfinex, now at the auction of Broadcast openly over 300 thousand short positions with a total amount of 60 million dollars. Some analysts believe that the bad conditions for the investors in the Ethereum was formed due to the collapse of the bubble ICO. Recall from the beginning of this year, the cryptocurrency has lost 90 percent of its value.

Despite the bad situation in the market, work in Ethereum Foundation goes according to plan. Soon hardwork Constantinople appears in testate Ropsten. Start the test upgrade must occur before the developer conference Devcon4.

Image source — Bloomberg

Information prepared in NewsBTC. Don’t forget to visit our cryptcatto Live started to grow.

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