Ethereum Breaks 200-Day Line as $462M in Longs Get Wiped Out
Ethereum Just Lost Its 200-Day Lifeline — and $462 Million in Longs Went With It Co-produced by Daniel Aharonoff and DigitalDan As the chief editor of ethdan.me, I have covered a lot of ugly Ethereum Mondays. But this one felt different — because it was not just a red day. On Sunday, November 8, Ethereum closed below its 200-day moving average for the first time since mid-August. Then on Monday it did it again, sliding to an intraday low of $2,108.59 and briefly dipping under $2,100 before clawing back to around $2,127. That line — the 200-day average, sitting at $2,154.98 — is the line traders call the bull-market border. Ethereum just crossed it in the wrong direction. And it did not cross quietly. More than $462 million in Ethereum positions were liquidated in 24 hours, the vast majority of them longs. Across the whole crypto market, liquidations topped $1.16 billion. U.S. spot Ethereum ETFs just logged their sixth straight week of outflows, shedding $365.2 million in the ...
