Ethereum Perspective on 6-5: Reference 1H

Yesterday, I mentioned that Ethereum has shifted from the lower consolidation range to the current position of 2650-2580. This consolidation box is simply too appealing for swing traders.

Yesterday, I pointed out that the upper edge of the box was a feasible short position, and those who acted on it are now profiting.

Moreover, last night Ethereum surged to a position of 2679, essentially sweeping away the bearish liquidity on the left side. Next, it should also sweep down to scan the bullish liquidity below.

As for whether to go long now, I will not be bullish on Ethereum at this position. It's either to go long if 2580 holds as support, or to drop below 2580 to retest the range of 2550-2540 to look for a long position.