Today we continue to discuss Ethereum. Yesterday, Ethereum reached the trend line at 2510-2500, where we perfectly took profits on our low long position.

Our main strategy today is to focus on short positions. Overall, this ascending triangle is about to be broken. If it reaches the end on the hourly chart, it will still take two days. The price fluctuation range is gradually decreasing from left to right, and both bulls and bears are getting closer to their defenses until they collide and break through. Generally, a breakout from an ascending triangle is bullish. However, it is currently noticeable that the volume below is clearly insufficient, and due to the impact of tariffs, if other countries retaliate, the negative factors far outweigh the positive ones.

From the heat map, there are strong sell orders near the upper triangle resistance line at 2600. When the price reaches the upper level tonight, there will definitely be a retracement. Here, the risk-to-reward ratio for a short position is as high as 9.00. The reference range is 2590-2610, and the stop-loss can be tightened to the previous high point 2635$ETH

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