$ETH The bulls can’t push it higher anymore. This pullback is just the beginning of profit-taking.
This rally lacks follow-through from fresh capital. With long positions piled up at elevated levels, it will be difficult for the price to rebound without new funds supporting it. Once that support disappears, traders holding profitable positions or looking to break even will exit.
For those who entered short positions, you can place your stop-loss above 2410 to lock in your existing profits.
The key support level to watch is 2380. If downside momentum builds, the target is 2370.
This rally lacks follow-through from fresh capital. With long positions piled up at elevated levels, it will be difficult for the price to rebound without new funds supporting it. Once that support disappears, traders holding profitable positions or looking to break even will exit.
For those who entered short positions, you can place your stop-loss above 2410 to lock in your existing profits.
The key support level to watch is 2380. If downside momentum builds, the target is 2370.