ETH is currently at 2454. Strategy: Look for a long position in the short term, but don’t chase the price—wait patiently for a pullback.
Go long between 2445 and 2460, targeting 2470 and 2500, with a stop loss below 2420.
2500 is a strong resistance level! Only if the price breaks above it on strong volume and holds there will there be room to move higher; otherwise, get out.
Looking at the chart: There’s a large cluster of short liquidation positions between 2470 and 2500. The market looks poised for a short squeeze, and the price may well sweep upward to take out liquidity. Technically, the broader trend is still bearish, but the price has held above 2430 in the short term, and bullish momentum continues to strengthen.
More analysis in the livestream and strategy group: #ETH
Go long between 2445 and 2460, targeting 2470 and 2500, with a stop loss below 2420.
2500 is a strong resistance level! Only if the price breaks above it on strong volume and holds there will there be room to move higher; otherwise, get out.
Looking at the chart: There’s a large cluster of short liquidation positions between 2470 and 2500. The market looks poised for a short squeeze, and the price may well sweep upward to take out liquidity. Technically, the broader trend is still bearish, but the price has held above 2430 in the short term, and bullish momentum continues to strengthen.
More analysis in the livestream and strategy group: #ETH