ETH's ETF funds continue to flow in massively, and the spot market keeps pushing the price up. The continuous rise has already forced many short positions to be liquidated.
For the long investors who missed the opportunity, it can easily trigger FOMO feelings, and it is already very close to the historical high.
So before the interest rate cut, it is very likely that there will be a test or even a breakthrough of the previous high.
During the day, long positions continue to increase as shorts are completely taken out during the upward fluctuations. Among them, many are players retaliatory shorting.
One can only say that the trading market is never short of stubborn players, and those who go against the trend ultimately have to pay some tuition.
In the short term, there is no expectation of any pullback, and all attempts to short are very left-sided behavior; if the short position is profitable, take profits as soon as possible.
Subsequently, still treat it with a mindset of buying on dips.
Resistance above: 4680/4810/4915
Support below: 4567/4496/4440
#ETH