$ETH High-level Consolidation: Heavy Selling Pressure Above, Solid Support Below—First Look for a Pullback in the Short Term!
Brothers, based on the latest liquidation map, order book depth, and macro data, let’s sort out the current market logic for ETH:
1. News/Flow: Long-term selling pressure is weakening
According to crypto analyst AxelAdlerJr’s data, after 8/19, the number of positions held by Bitcoin long-term holders has decreased for 5 consecutive weeks. However, over the past 30 days, the pace of net selling has slowed dramatically from 105,900 BTC to 21,700 BTC (down nearly fivefold). The LTH SOPR indicates that most are selling while in loss. This suggests that the sell pressure from long-term holders is gradually exhausting, which is a medium-term positive for the broader market.
2. Market Structure: Overhead pressure is extremely heavy
Current price is 2664. From the liquidation map, in the 2670–2800 range there is a dense pile of long-liquidation orders. Looking at order book depth as well, massive sell orders have been placed above 2670. This means that for a short-term breakout upward, price must absorb a huge amount of overhead supply/liquidation pressure—making it extremely difficult.
3. Support Below: The Bulls’ line is clear
In the 2600–2650 range, there are plenty of bids absorbing sell pressure. In particular, at 2650 the standing orders exceed 40,000, which is an important support for the short term. As long as this area holds and doesn’t break, the bull structure remains intact.
The big-picture trend is still bullish, but in the short term, facing dense overhead selling pressure, price will very likely first go through a period of consolidation/pullback to digest the pressure.
At the moment, it’s not recommended to chase blindly. If you already hold longs, set a breakeven stop loss. For the upside target, first look at 2750–2800. If you’re in cash, wait for a pullback and buy only after 2630–2650 stabilizes. If the rebound stalls around 2700, you can take a small position to bet on a short-term pullback.
#以太坊突破2700美元
Brothers, based on the latest liquidation map, order book depth, and macro data, let’s sort out the current market logic for ETH:
1. News/Flow: Long-term selling pressure is weakening
According to crypto analyst AxelAdlerJr’s data, after 8/19, the number of positions held by Bitcoin long-term holders has decreased for 5 consecutive weeks. However, over the past 30 days, the pace of net selling has slowed dramatically from 105,900 BTC to 21,700 BTC (down nearly fivefold). The LTH SOPR indicates that most are selling while in loss. This suggests that the sell pressure from long-term holders is gradually exhausting, which is a medium-term positive for the broader market.
2. Market Structure: Overhead pressure is extremely heavy
Current price is 2664. From the liquidation map, in the 2670–2800 range there is a dense pile of long-liquidation orders. Looking at order book depth as well, massive sell orders have been placed above 2670. This means that for a short-term breakout upward, price must absorb a huge amount of overhead supply/liquidation pressure—making it extremely difficult.
3. Support Below: The Bulls’ line is clear
In the 2600–2650 range, there are plenty of bids absorbing sell pressure. In particular, at 2650 the standing orders exceed 40,000, which is an important support for the short term. As long as this area holds and doesn’t break, the bull structure remains intact.
The big-picture trend is still bullish, but in the short term, facing dense overhead selling pressure, price will very likely first go through a period of consolidation/pullback to digest the pressure.
At the moment, it’s not recommended to chase blindly. If you already hold longs, set a breakeven stop loss. For the upside target, first look at 2750–2800. If you’re in cash, wait for a pullback and buy only after 2630–2650 stabilizes. If the rebound stalls around 2700, you can take a small position to bet on a short-term pullback.
#以太坊突破2700美元
