This latest “wearing down the hawk” trade has taken a serious hit: the most recent short position, $ETH , is currently down 23,000 U.

The position is still being held against the trend. ETH has been rebounding overall today, and since this short was opened, the price hasn’t moved in the expected direction. The floating loss is slowly growing. If the price later falls back below 2416, there may still be a chance to turn a profit.

The current situation is pretty uncomfortable—there’s no profit to take, but it hasn’t reached the point where the position must be cut either. The price is just hovering around the entry price.

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