Ethereum (ETH) Trade Review: Short or Long? ๐๐
Ethereum (ETH) is currently trading at $1,931.31, showing a 0.05105% increase today. But whatโs the best moveโshort or long?
๐ Short Trade Opportunities:
Ethereum has seen a record-high short position of $11.3 billion. With ETH dipping below $2,500, short traders have made substantial profits. ๐
Short liquidations have been outpacing long liquidations by 40%, making short trades a profitable play in this volatile market.
๐ Long Trade Insights:
Despite volatility, Ethereum could trigger a relief rally. If ETH breaks out of its wedge pattern, it may recover and push higher. ๐
Investors should be prepared for market fluctuations and potential rebounds.
๐ก Your Strategy?
Short: If you believe ETH will continue its downward trend.
Long: If youโre looking for a potential breakout and a chance to capitalize on a recovery.
Hold: If youโre in for the long-term and willing to wait through the volatility.
Let us know your thoughts and strategy below! ๐