Fans have already entered a short position in Ethereum. Recently, although ETH has followed BTC's rise, looking closely at the market, I only see one word - short!
Don't let the short-term rebound blind you; the market is quietly brewing a "harvest" situation. Today, I will break it down for you to understand clearly.
From the daily chart, Ethereum has continuously surged to around $4000, with significant selling pressure above.
4000-4100, multiple attempts have failed to break, and the bearish defense line is unusually strong.
The recent rise of ETH is more a passive rebound following BTC, without independent strong bullish support.
Fans have already entered a short position near 3910 and are still holding. Those who haven't entered can find a position to continue.
Intraday focus: ASR OG A2Z BB BIO PENDLE
