Ethereum [ETH] The long-short ratio reaches the November 2018 level, does that mean another 60% crash?

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Unlike other previous times, the short-term rally last weekend was led by Ethereum, which had jumped 10%. The 3rd largest cryptocurrency went from $ 120 to $ 149 last week.

Looks like the next hard end of Constantinople on February 28th will fuel the Ethereum price since it is currently changing hands at $ 147.71 with gains of 0.89% over the 24 hours, ETH is also in the green of 0.71% at the time of the press. According to data provided by Coinmarketcap, the latter currently manages a transaction volume of $ 3.67 billion.

As Alex Kruger, the shares of economist and trader,

"This time, Constantinople should * not * be a bullish event in the short term. But the stories are important and the narrative says bullish, and some big fish took charge of ETH recently. "

He had also shared that before, namely that Ethereum's upcoming fork is "not fundamentally bullish," but rather bearish, because "by postponing the time bomb, the fork will result in a reduction in the price." "Reduced offer".

"There is a need to distinguish between the drop in ETH emissions, which has occurred significantly since December, and the range, which will result in a higher * emission * than without it. The range will stabilize ETH emissions to levels about a third lower than in November. "

However, investors in Ethereum are optimistic about this range, as long positions in ETH / USD are at a record high (ATH), while declining positions are falling steadily. The current ratio of long / short bonds is approaching the peak reached before the November crash.

"The last time the ETH had recorded this ratio was as high as before the 60% accident in November. Constantinople comes on February 25th. Crypts often stand up in anticipation of a fork – long story – reach a local peak a few days ago, and crash into the pitchfork. Attention, the current crypto-pump was driven by the ETH. "

The current position of ETH does not give a satisfactory picture and, given the fact that the last time this extreme level preceded the liquidation of November, we could witness another crash. Well, Ethereum could well fuel the dump that the market expects to reach.