$ETH Ethereum is under significant selling pressure following news of a suspected $157 million sell-off by a co-founder. The technical structure is bearish, with the Parabolic SAR dots positioned well above the price candles and the MACD showing negative momentum.
• Entry Trigger: Sell/Short on a 15m candle close below $1,946.80. This level is the current daily floor; a break here confirms a continuation of the downward trend.
• Take Profit 1: $1,920.00 (Psychological support zone).
• Take Profit 2: $1,895.00 (Major structural support).
• Stop Loss: $1,975.00. This is placed above the recent lower high and the descending SAR dots to invalidate the trade if a relief bounce occurs.
Why Short?
• Parabolic SAR: The dots are currently at $1,974.48, acting as dynamic resistance that is capping any upward movement.
• MACD: The DIF (-4.33) and DEA (-4.34) are deeply negative, and while the histogram shows a tiny green tick, the overall trend remains firmly in the hands of the bears.
• Sentiment: Despite the price drop, the order book shows 80.62% Longs. This creates a high-risk environment for a "long squeeze," where these positions are liquidated, potentially causing a rapid crash toward $1,900.
Trade
$ETH here👇🏻👇🏻
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