eth 2743, just like the big pancake—once that air-spike rally was done, it lost steam.
On the 22nd it pushed up to 2804, which was the high point. The moment it went up, it was pressed back, leaving a long upper wick.
After that for the rest of the day, it just kept getting stuck back and forth between 2716 and 2804. Up by dozens of points, down by dozens of points—nobody could push anyone through.
The resistance above couldn’t be broken, and the volume below didn’t keep up.
In this kind of situation, you usually need to pull back first to rebuild the momentum.
For the short term, you can short a round. This level is pretty good—on top it’s capped right under that 2804 top. Put your stop-loss above that, and you won’t lose too much.
For support, first look at 2716, yesterday’s low. Then lower at 2650, where the high from the 19th is. If it comes back into that area, it’ll be about right.
Short-term trades only—don’t hold it for too long. #ETH $ETH
On the 22nd it pushed up to 2804, which was the high point. The moment it went up, it was pressed back, leaving a long upper wick.
After that for the rest of the day, it just kept getting stuck back and forth between 2716 and 2804. Up by dozens of points, down by dozens of points—nobody could push anyone through.
The resistance above couldn’t be broken, and the volume below didn’t keep up.
In this kind of situation, you usually need to pull back first to rebuild the momentum.
For the short term, you can short a round. This level is pretty good—on top it’s capped right under that 2804 top. Put your stop-loss above that, and you won’t lose too much.
For support, first look at 2716, yesterday’s low. Then lower at 2650, where the high from the 19th is. If it comes back into that area, it’ll be about right.
Short-term trades only—don’t hold it for too long. #ETH $ETH
