ETH found support at 2520 yesterday and broke upward to below the heavy resistance at 2720. This position has been strongly pressured by selling three times in a row. This means that for $ETH to advance further, the resistance at 2720 must be broken.
The 4-hour chart has already started showing signs of fatigue. The downward support is at 2580. It is worth mentioning that during the market decline, ETH's open contract positions have remained high.
From the chart, it can be seen that the number of long positions is significantly greater than that of short positions. The market's upward contracts yesterday were the main driving force.
Personally, I think it would be wise to clear out some of these long positions, at least down to the 2580-2550 range. The market is still in a wide fluctuation range of 2720-2500, with reasons and basis for both longs and shorts.
