Ethereum (ETH) Oversold

Ethereum (ETH) is brutally oversold, with whales getting liquidated as prices crashed below $2,000 for the third time this year. This brutal sell-off is due to Bitcoin’s (BTC) sudden collapse below $80,000 over the weekend.

The upcoming blood moon lunar eclipse could be a silver lining that catalyzes a bullish reversal, or it could further exacerbate the downtrend by contributing to another leg of correction not just for Ethereum price but also for the entire crypto market.