ETH is recovering, but will it be sustainable?
Ethereum (ETH) has made a strong recovery from the bottom of 1,752 to the current price zone of 2,013. However, ahead lies a significant resistance area of 2,190 - 2,200, where selling pressure may increase sharply. This will be the point where whales may take advantage to distribute their holdings, or will ETH break through this area to establish a new upward trend?
The great uncertainty: Is this just a technical rebound before a further decline, or is it a signal of a real bull run?
If observed closely, it can be seen that buying pressure has started to slow as the price approaches the upper supply zone, while the support area of 1,860 - 1,900 has yet to be retested after the previous breakout.
Buying strategy – Wait for a correction or ride the wave?
If you want to find a safer entry point, you can wait for the price to correct back to 1,860 - 1,900, observe the price reaction and signs of strong buying pressure to confirm an entry. The stop loss can be set below 1,850, with profit-taking expectations at 2,100 and 2,190 - 2,200 respectively. If ETH breaks and closes above 2,200 with high volume, then it may be worth considering opening additional breakout positions.
Do you think ETH will revisit liquidity at the support zone before moving forward?
If you are holding ETH, do you have a plan to exit your position? Where will you take profits, and are you ready to cut losses if the market goes against you?
The market always asks: Do you have enough patience to wait for a good opportunity, or will you act on impulse?
Now it's your turn: Which option will you choose?$ETH
