Key takeaways:
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Ether’s 20% monthly decline has pushed it into a clear daily downtrend, retesting $3,000 for the first time since July.
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The Mayer Multiple falling below 1 signals a historically strong accumulation zone, resembling past bottoming phases.
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Leveraged liquidity has reset, but clusters at $2,900 and $2,760 warn of further volatility before a potential recovery.
Ethereum’s native token, Ether (ETH), has slipped nearly 20% in November, from $3,900 to retesting the $3,000 level on Nov. 17, a price last seen on July 15. The drawdown has pushed ETH into a well-defined daily downtrend, marked by consecutive lower highs and lower lows, placing the market in a technically fragile zone despite long-term accumulation signals starting to emerge.
Mayer Multiple drops below 1: What it means for ETH
One of those signals comes from Capriole Investments’ Mayer Multiple (MM), which…
