• Entry: 2.580 – 2.600
• SL: 2.635
• TP: 2.440 – 2.400
• Prioritize observing reactions around the 2.580 – 2.600 area.
• If there is a negative price reaction + low volume, a short-term SHORT order can be set up.
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Technical Analysis:
ETH has been trading in a clear sideways pattern for several days, with a fluctuation range of ~2,400 to 2,650. All breakout attempts have failed and have been pulled back to the equilibrium zone.
Ichimoku Cloud:
• The price just touched the lower boundary of the sideways range and is bouncing back up but encountering a horizontal red cloud above.
• The Kijun and Tenkan lines are still diverging and are below the price, not confirming a trend reversal.
• Chikou Span is trapped in the candle zone – no clear signal yet.
MACD:
• Both the MACD and Signal lines are below the 0 axis.
• The histogram is narrowing but has not turned positive. This confirms that this is just a technical bounce in the short-term downtrend.
Volume Profile & Order Flow:
• The area with the largest volume (POC) is around the 2,600 – 2,650 mark, where the price is currently heading.
• A large order cluster with negative Delta -629K shows strong selling pressure but no successful absorption signal from buyers yet.
• Volume at the bottom is relatively low (3.675M), which may indicate that the bounce is unsustainable without new demand.
– Overall, ETH is reacting in the lower boundary area with a slight downward trend. If it cannot surpass the 2,600 – 2,620 range in the next 1–2 candles, it is highly likely that the price will return to test the old bottom around 2,400.
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Summary:
The ETH signal is still not clear for a buying position. The current bounce is more technical than a reversal. Further reactions need to be waited for before taking action. In a low volatility market condition with no strong catalyst, maintaining a safe position is a better choice than fomo.
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