Technical Analysis

Fundstrat co-founder Tom Lee projects Ethereum is approaching a cyclical bottom this week at $3,018, citing on-chain fundamentals and valuation metrics relative to Bitcoin. Lee attributes the recent decline to a broader crypto correction following an October 10 liquidation event. He maintains Ethereum's core investment thesis remains intact, supported by growing institutional interest in blockchain infrastructure for tokenization and stablecoins.

El Salvador purchased 1,090 BTC on November 18, 2025, bringing its total holdings to 7,474 BTC valued at approximately $676 million. The acquisition occurred as bitcoin fell below $90,000, marking its lowest level since April. The purchase raises questions about compliance with the country's $1.4 billion IMF loan agreement, which prohibits new bitcoin acquisitions by public entities.

Hyperliquid's HYPE token advanced 6.7% to trade near $41.28 while most altcoins declined, with market capitalization reaching $13.9 billion. Trading volume jumped 57.58%, indicating strong market participation across spot and derivatives platforms. The gain contrasts with broader crypto market weakness, suggesting selective investor rotation into specific opportunities.

Bittensor has fallen 60% from its all-time high, with TAO declining 14.8% over the past week. The token is now testing a multi-month support level at $300, which has held since June. Token Terminal data show core developer activity declined during July and August and has not recovered.

Ethereum, Chainlink and Cardano are showing Market Value to Realized Value metrics between -15.4% and -19.7% for 30-day active wallets, data show. Santiment states these levels historically signal potential accumulation zones. Bitcoin's social dominance reached a four-month high as the price fell below $95,000, reflecting heightened retail concern.

Major Ethereum holders have sold approximately 230,000 ETH over the past week, data show. Addresses holding between 1,000 and 10,000 ETH reduced their balances during this period. Despite the selling pressure, buyers continue to defend the $3,000 level, while technical analysts monitor a potential inverse head-and-shoulders pattern.

XRP declined to approximately $2.10 amid a broader cryptocurrency market correction that saw Bitcoin drop below $90,000 and Ethereum fall under $3,000. Data show 41.5% of XRP's circulating supply—around 26.5 billion tokens—is now held at a loss, the highest level since November 2024. Only 58.5% of holders remain in profit, the lowest profitability ratio since XRP traded at $0.53 last November.

Bitcoin derivatives markets experienced extreme volatility as liquidation data revealed a 1,364% imbalance between long and short positions, creating a $187 million gap. Long positions accounted for 93% of $218.5 million in total liquidations during the reviewed period, driving significant downward price pressure, data show.

A trader holding a $96 million leveraged long position on XRP has lost over 50% as the token trades near $2.17, down from an entry at $2.2924. Cross-margin losses exceeding $16.5 million across multiple assets have elevated liquidation risk beyond the formal threshold of $1.3062, according to HyperDash data. The position faces potential forced closure if portfolio-wide equity continues to erode, regardless of XRP's distance from its technical liquidation price.

Dogecoin's Reserve Risk metric has compressed into the green "extreme value" band last observed during previous cycle lows, data show. The indicator, calculated as price divided by cumulative opportunity cost held by long-term holders, signals historically attractive valuation levels. Meanwhile, DOGE price structure has deteriorated below its two-year moving average and is testing mid-channel support near $0.15, with the next major reference at approximately $0.07.