Ethereum (ETH) dropped 2% on Friday after SharpLink Gaming’s (SBET) reported quarterly losses of $103 million, even though it increased its treasury holdings to 728,000 ETH.
It failed to move back towards $4,700. This decline led to $169 million in futures liquidations in the past 24 hours. Liquidated long positions made up $130 million, while short liquidations accounted for the rest, according to Coinglass data.
The leading altcoin might find support at $4,100, a level that acted as significant resistance in the past year. If it declines further below $4,100, ETH could drop to $3,500, a level reinforced by the 50-day Exponential Moving Average (EMA) and Simple Moving Average (SMA).
SOURCE: riveraglam.com
