$ETH 2531 This level is quite delicate. I took a look at the position distribution of smart money and spotted a dangerous signal. ⚠️ The nominal long/short ratio is 156%, which makes it look like the bulls are very strong. But take a closer look at the profit and loss:
● Longs: Positions worth 968 million U, with unrealized losses of 1.73 million U; only 20% are in profit. This means most longs are “stubborn bulls” who are underwater.
● Shorts: Positions worth 619 million U, with unrealized profits of 12.54 million U; 83% are in profit. This is where the real institutional money is. The conclusion is clear: the bears are currently in control of the market. Here’s how things could play out next:
1. Short-term resistance: The 2550–2560 range will likely face heavy selling pressure from longs looking to break even (that’s the average cost basis for longs).
2. Key support: If 2500 fails to hold, it could trigger a cascade of liquidations among longs. Trading advice: Don’t go against the bears at this level. If you want to go long, wait until the price holds above 2580 and confirms that the shorts have taken profits and exited before entering. For now? Sit on the sidelines.

● Longs: Positions worth 968 million U, with unrealized losses of 1.73 million U; only 20% are in profit. This means most longs are “stubborn bulls” who are underwater.
● Shorts: Positions worth 619 million U, with unrealized profits of 12.54 million U; 83% are in profit. This is where the real institutional money is. The conclusion is clear: the bears are currently in control of the market. Here’s how things could play out next:
1. Short-term resistance: The 2550–2560 range will likely face heavy selling pressure from longs looking to break even (that’s the average cost basis for longs).
2. Key support: If 2500 fails to hold, it could trigger a cascade of liquidations among longs. Trading advice: Don’t go against the bears at this level. If you want to go long, wait until the price holds above 2580 and confirms that the shorts have taken profits and exited before entering. For now? Sit on the sidelines.