$ETH 2.571 — more than 3/4 of accounts are still long (3.3 longs for every short) as the price drops to 2,535, its lowest since 9/18.
From 2,725 on the evening of 10/6, ETH fell to 2,535 at midnight today, then bounced slightly to 2,570. Open interest fell 2.7% over 24 hours ($6.31B → $6.14B), with funding near zero. No ETH-specific news found.
The 4H and 12H timeframes are bearish; the 15m and 1H are only bouncing. Indicators are not aligned.
Main plan: stay on the sidelines. Reassess when a 4H candle closes outside 2,535–2,617.
Longs outnumber shorts 3 to 1—who will catch the price if 2,535 breaks?
Personal observation, not a recommendation. Risk 1%, always use a stop.
#ETH #Ethereum $ETH
From 2,725 on the evening of 10/6, ETH fell to 2,535 at midnight today, then bounced slightly to 2,570. Open interest fell 2.7% over 24 hours ($6.31B → $6.14B), with funding near zero. No ETH-specific news found.
The 4H and 12H timeframes are bearish; the 15m and 1H are only bouncing. Indicators are not aligned.
Main plan: stay on the sidelines. Reassess when a 4H candle closes outside 2,535–2,617.
Longs outnumber shorts 3 to 1—who will catch the price if 2,535 breaks?
Personal observation, not a recommendation. Risk 1%, always use a stop.
#ETH #Ethereum $ETH