$ETH Longs sprint in a rush, but it’s clearly running out of steam!
Ether One pushed through 2700 in one go, with the peak reaching nearly 2750
Now looking at the chart: after it surged up, it didn’t manage to sustain a smooth acceleration. Instead, it quickly shrank in volume and pulled back to around 2715.
That resistance showing up at this spot is totally reasonable: the 2730–2740 zone is the rebound high-point platform from the past few days, where a significant amount of sell pressure has built up.
The recent 1-hour candle, although it broke above 2740, left a clear upper wick at the high end. This indicates that profit-taking and bargain-holders exiting decisively at this juncture.
Next, the most critical thing isn’t how high it can go, but the quality of the pullback:
Bull defense line: 2700 is the neckline just broken through. If the pullback can stabilize and close with a long lower wick around 2700, then the structure of this rally remains intact, and the longs still have a chance to build energy for a second push toward 2750.
Weak signals: a volume-backed drop back below 2690. Once the body of the candle slips and re-breaks below the 2700 platform, this surge to higher levels will be directly labeled as a false break to lure longs, and it may even trigger a quick sell-off pullback.
In the high-level consolidation phase, don’t blindly chase one-direction breakout trades. Keep the key levels locked down, and only act after you see confirmation from the pullback.
The long positions set up earlier around 2675 already took profit at 2725. I’m currently on the sidelines, waiting to see 2700 confirm before making the next move.
$BTC
$SOL
Ether One pushed through 2700 in one go, with the peak reaching nearly 2750
Now looking at the chart: after it surged up, it didn’t manage to sustain a smooth acceleration. Instead, it quickly shrank in volume and pulled back to around 2715.
That resistance showing up at this spot is totally reasonable: the 2730–2740 zone is the rebound high-point platform from the past few days, where a significant amount of sell pressure has built up.
The recent 1-hour candle, although it broke above 2740, left a clear upper wick at the high end. This indicates that profit-taking and bargain-holders exiting decisively at this juncture.
Next, the most critical thing isn’t how high it can go, but the quality of the pullback:
Bull defense line: 2700 is the neckline just broken through. If the pullback can stabilize and close with a long lower wick around 2700, then the structure of this rally remains intact, and the longs still have a chance to build energy for a second push toward 2750.
Weak signals: a volume-backed drop back below 2690. Once the body of the candle slips and re-breaks below the 2700 platform, this surge to higher levels will be directly labeled as a false break to lure longs, and it may even trigger a quick sell-off pullback.
In the high-level consolidation phase, don’t blindly chase one-direction breakout trades. Keep the key levels locked down, and only act after you see confirmation from the pullback.
The long positions set up earlier around 2675 already took profit at 2725. I’m currently on the sidelines, waiting to see 2700 confirm before making the next move.
$BTC
$SOL
