Ethereum this wave, is it building momentum or a trap for buyers?
Is Ethereum currently brewing a new round of breakthroughs, or is it about to harvest another wave of buyers?
From the chart, it can be seen that there is a dense concentration of orders in the key price range, with a significant accumulation of liquidations around $3000. This indicates that both bulls and bears are reluctant to let go easily at this position.
Bitcoin has recently strengthened, and ETH is also following the warming sentiment. As long as BTC doesn't plunge, this wave of ETH cannot simply be considered a rebound. If it can stabilize above $3000, combined with continuous capital inflow, reaching $3100 or even higher would not be unexpected.
But do not overlook the dense yellow-green area on the heat map; these positions are often bait for orders. Once retail investors chase aggressively, the market makers often retaliate with a wave of selling, pushing down to $2950 or even $2900, washing out the weak hands.
So, until the previous high is broken, it is likely that there will be back-and-forth movements here.
🎯 My opinion: Don't bet on a one-sided market; patiently wait for signals, or enter with a small long position.
At this position, the most taboo thing is to go all in and gamble on the direction. Test with a small position to see if it breaks through or retests, focusing on volume and overall market movements. The market must either quickly stabilize if it goes up, or prevent further selling if it goes down.
In summary: Either consolidate momentum, or rebound to trap buyers; be prepared for both scenarios, and avoid recklessly going all in.
Follow the sunrise; this round of market can turn around and break even!
