$ETH ๐จ **ETH IS READY TO BREAK OUT AGAIN, OR DOES IT TURN INTO A TRAP?**
Ethereum is still in an important zone after its rally toward **the $2,500s**. Technically, the structure still leans bullish, while the **ETH Spot ETF recorded inflows of $87.68 million on August 31** and has already seen **11 consecutive days of inflows**. ๐
๐ **Levels you must watch:** ๐ข Support: **$2,400โ$2,300** ๐ด Resistance: **$2,550**
If ETH manages to **break above $2,550**, the chance to reach the next resistance level opens up.
But if it fails to break out and loses **$2,400**, be carefulโthere may be a correction.
**What do you think: will ETH BREAK OUT, or will it DUMP first? ๐๐ฅ**
๐ด $SOL โ STARTING BEARISH? OR JUST A RETEST BEFORE THE UPTREND CONTINUES?
According to my analysis, SOL has started showing signs of exhaustion after a very fast rally.
Right now, SOL is around $102โ103, down about 3โ4% in the past 24 hours. From my screenshot, SOL even briefly lost the $105 area, which had previously become an important resistance.
๐ Why Iโm starting to turn bearish?
1๏ธโฃ The rally was too aggressive
2๏ธโฃ The Daily RSI is already very high
3๏ธโฃ Failed to hold the $105 area
4๏ธโฃ Thereโs potential for profit-taking after a big surge
โ ๏ธ But thereโs one thing that makes me NOT too bearish yet:
The SOL ETF is still seeing large inflows.
On August 27, the spot Solana ETF recorded about $60.91 million in net inflowsโone of the largest daily inflows since the ETF launched. The total cumulative inflows are also already around $1.32 billion.
Meaning: institutional demand is still there.
So I donโt see this as a โSOL is definitely going to dump.โ
More precisely:
SOL is currently in a zone that, in my view, makes the risk/reward for LONG less attractive after a rally this big.
๐ฏ Levels Iโm watching:
๐ด $105โ110 โ resistance / bearish short-term invalidation zone ๐ก $100 โ psychological support ๐ข $95 โ next support ๐ฅ If $95 truly breaks, Iโll start to see the possibility of a deeper correction.
On the other hand, if SOL can reclaim $110 with strong volume, then my bearish thesis needs to be re-evaluated.
So for now, personally, Iโd rather WAIT than FOMO LONG above $100.
What do you think?
๐ Will SOL continue to $110+ or go back to $95?
$BTC traded in the price range of $66,000.. where the area of $64,000-$66,000 is currently the support area. open LONG DCA system at $66,000 (30% of capital), $65,000 (30% of capital) $64,000 (40% of capital). for STOP LOSS at the price of $61,000. and TAKE PROFIT $69,000, $70,000, $71,000, $72,000 *DYOR*#ADPJobsSurge
seen from the chart, $ETH currently consolidating in the support area. it is likely to approach the previous resistance area, around $1980, very suitable for opening a short-term buy position, recommended to open in the area of 1908-1920, target TP 1980, 1990, 2000, for SL at the price of 1890. #dyor
the chart is quite nice, to go for a long position. with the entry at the area of $82, the target TP at resistance, SL at the area of $77-78$ #OpenClawFounderJoinsOpenAI