🔸 Ethereum continues to move sideways
After a false breakout at the end of June, the price returned to the middle of the range. That is where I showed the entry point for a short-term/medium-term long position.
📈 Growth potential remains
The target is the upper limit of the sideways movement (2700–2800), where sales are possible again. I am holding part of the position taken from the bottom. This is a speculative trade with limited potential.
⚠️ Risk of reversal
If we don't break through to the upside, we may return to the middle again. If the breakout does occur, especially in sync with BTC, a new medium-term entry point will appear.
But let me remind you: last time it ended in a false breakout and knocked out stops, including mine.
📍 Important zones — 2360 and 2740
Large volumes of liquidations are concentrated at these levels. They actually coincide with the boundaries of the current sideways movement, so the price may react sharply when approaching them.
🎯 What to do now?
Entering in the middle of a sideways movement is a gamble. I am waiting for either a breakout or a false breakout.
📉 What is preventing growth
The CME has accumulated the largest short position in history among speculators. This could be:
— Hedging
— Playing against the trend (CTT)
However, this is only one group of participants.
📊 There are other players — hedge funds and asset managers. We will soon see how they will act.
The market has been contracting in a sideways trend for a long time, and this is almost always a harbinger of a strong impulsive movement.
#ETH
After a false breakout at the end of June, the price returned to the middle of the range. That is where I showed the entry point for a short-term/medium-term long position.
📈 Growth potential remains
The target is the upper limit of the sideways movement (2700–2800), where sales are possible again. I am holding part of the position taken from the bottom. This is a speculative trade with limited potential.
⚠️ Risk of reversal
If we don't break through to the upside, we may return to the middle again. If the breakout does occur, especially in sync with BTC, a new medium-term entry point will appear.
But let me remind you: last time it ended in a false breakout and knocked out stops, including mine.
📍 Important zones — 2360 and 2740
Large volumes of liquidations are concentrated at these levels. They actually coincide with the boundaries of the current sideways movement, so the price may react sharply when approaching them.
🎯 What to do now?
Entering in the middle of a sideways movement is a gamble. I am waiting for either a breakout or a false breakout.
📉 What is preventing growth
The CME has accumulated the largest short position in history among speculators. This could be:
— Hedging
— Playing against the trend (CTT)
However, this is only one group of participants.
📊 There are other players — hedge funds and asset managers. We will soon see how they will act.
The market has been contracting in a sideways trend for a long time, and this is almost always a harbinger of a strong impulsive movement.
#ETH
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ETH
3,750
+5.76%