Someone asked me why ETH is trending again. My sentiment-based answer: it’s been stuck around 2,500 all day, so I’m leaning bearish and staying cautious.
BTC made a small move, and ETH did too—but that’s all the major coins have managed tonight. Not enough to count as a meaningful breakout.
It’s still in the red on the 60-day chart, with the monthly moving average overhead still holding firm. That’s the most awkward kind of setup: it can’t break higher or lower.
It’s bounced a little from the intraday low, but I don’t trust a rebound without volume.
My rule: if it rallies to the daily high of 2520.54 without volume, I’ll keep selling. Only once it gets back above that level will I consider a recovery.
It’s hovering near the 7-day moving average at 2492.6. It needs to hold above that level for a chance.
2406.11 is the sentiment floor for this move. If it breaks, I’ll look lower—that’s where real support lies.
With ETH at the 2,500 level, are you buying the dip or waiting for a breakdown? Reply 1 to buy the dip, or 2$ETH $BTC #L1 to wait for a breakdown. #MarketAnalysis
BTC made a small move, and ETH did too—but that’s all the major coins have managed tonight. Not enough to count as a meaningful breakout.
It’s still in the red on the 60-day chart, with the monthly moving average overhead still holding firm. That’s the most awkward kind of setup: it can’t break higher or lower.
It’s bounced a little from the intraday low, but I don’t trust a rebound without volume.
My rule: if it rallies to the daily high of 2520.54 without volume, I’ll keep selling. Only once it gets back above that level will I consider a recovery.
It’s hovering near the 7-day moving average at 2492.6. It needs to hold above that level for a chance.
2406.11 is the sentiment floor for this move. If it breaks, I’ll look lower—that’s where real support lies.
With ETH at the 2,500 level, are you buying the dip or waiting for a breakdown? Reply 1 to buy the dip, or 2$ETH $BTC #L1 to wait for a breakdown. #MarketAnalysis