In my previous post, I mentioned that taking some profits on Ethereum wouldn’t be a bad idea as it approaches its previous all-time high.

A rejection from this zone shouldn’t come as a surprise. When too many people become overly comfortable in one direction, the market usually does the opposite. A lot of traders were extremely excited and heavily leveraged long, assuming $ETH is about to break its ATH.

Sharp pullbacks are often triggered by long liquidations.

That said, Ethereum is still bullish overall. Dips are opportunities, Plan your entries.