I just checked the chart—ETH’s current price is 2663, exactly stuck in a very awkward spot.

First, the conclusion: the short-term bearish signal is slightly stronger, but I don’t recommend entering directly right now.

Why bearish?

• Around 2669, the sell-wall is 2.4 times the buy-wall, and rebounds have been repeatedly suppressed

• In the past 24h, long liquidations totaled 54.13 million, far exceeding short liquidations of 30.38 million—leveraged longs are being flushed out

• In 4 hours, ADX is only 14.4—no clear trend, but the price is below the Bollinger middle band

• Macro: the probability of a rate hike in October rises to 68.1%, Treasury yields remain high, and risk assets are under pressure

But why don’t I open a position now?

2663 is too much of a middle point:

• Short 50 points → target 2613; you need to break below the 2636 support first, otherwise the profit will be compressed

• Go long 50 points → target 2713; you need to first reclaim 2669 and then break 2698—harder to do

My approach: wait for confirmation; don’t guess the direction.

• A valid breakdown of 2636 and a hold → consider shorting, target 2613 or even lower

• Break back above 2700 with increased volume → short-term structure improves; then consider going long

Enter directly at 2663—essentially you’re betting. And with ADX at 14, it shows there’s no trend right now, so the probability of getting hit both ways is very high.

A 50-point move is too normal within ETH’s daily trading range—don’t send yourself in just to get the jump on the move.

The above is just my personal recap and does not constitute investment advice. Are you currently in cash or holding a position? Chat in the comments. #ETH