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Honestly, seeing ETH hovering around $2042, I, as an old hand, am reminded of the dark times in 2022. But this time, my mindset is quite calm; after all, having experienced the brutal drop from $4800 to $800, these small fluctuations are nothing.
Today, it dropped 0.46%, falling from the high of $2084 to $2027. Such a $50+ swing is just normal breathing for ETH. The trading volume is 198 million USDT, which is fairly average, with no signs of panic selling.
The most interesting thing is the Fear & Greed Index, at 12 points—extreme fear. Haha, is it time to buy the dip again? The last time I saw such a number was at the end of last year, and that wave pushed from $1200 all the way to over $2000. But then again, sometimes these indices are less accurate than weather forecasts.
From a technical perspective, the $2000–$2100 range has been consolidating for quite a while. Either it breaks upward back to over $2200, or it drops again to test the $1900 support. Honestly, being stuck in this position—neither up nor down—is the most torturous.
But experience tells me that when the market shows extreme fear, it’s often preparing for the next rally. Of course, it could also be laying the groundwork for further decline—that’s the charm of the crypto market—you never know what tomorrow will bring.
Anyway, I’m not worried. I’ll keep dollar-cost averaging and holding my positions. After all, from a long-term perspective, ETH’s fundamentals are still there, and the benefits of the 2.0 upgrade haven’t been fully realized yet.