ETH Position Analysis
In recent days, the trend of ETH has been relatively strong, consistently outperforming BTC. It is now once again trapped in a higher range of fluctuations. The significant on-chain minting of USDT and the substantial daily net inflow into ETFs have provided the market with ample confidence. Currently, it clearly belongs to a bullish trap, and one might consider entering a small short position around 3935, waiting for the evening news to ferment.
Support Levels Below:
First Support: 3760 (upper bound of the short-term range) previous pullback stagnation level
Second Support: 3685 (previous platform top + moving average support)
Resistance Levels Above:
First Resistance: 3975-3940 (current phase high point), a threshold for bulls to further gain momentum, historical next new high
Second Resistance: 4100 (macro historical trapped area), historical highest trapped point
Trading Advice for ETH:
Bearish approach; it’s more practical to short than to long. Unless we encounter another large player dumping or institutions offloading, we will see how the market sentiment reacts to the tariff and interest rate news before the 31st. Similarly, consider a short position at high levels, enter a small short position near 3940, add to the position around 4100, with a stop-loss at 4150. ETH is showing strong fluctuations, so only small positions should be shorted at high peaks.
