Ether has precisely tested its marginal zone within the current downward cycle.
However, downside targets are becoming increasingly clear; we are seeing a significant buildup of open interest at the 1500 level.
Incidentally, 1500 also marks exactly half of the marginal move from the current marginal zone.
According to my data, Ethereum has not yet tested the 1500 support level.
Clearly, there is a sell-off underway in the crypto market, seemingly driven by regulatory concerns.
