1d ago
#ETH
Well, I think I don't need to say much, but since we're here, I will mention it to clarify the current situation for everyone.
The price of Ethereum once approached the lower bound of the weekly resistance level, triggering stop-loss orders, which led to forced liquidations of leveraged accounts, and then it rebounded to near the weekly high—this looks very bullish on higher time frames. However, by the end of the month, we might see Ethereum retrace to the 0.5 Fibonacci level of last week's lower shadow.
In any case, the market seems to be gearing up, and a strong rebound is expected starting November 1.
In the short term, Ethereum may target the $4360 to $4560 range (if it adjusts from around $4360 and then goes straight up, the risk will be very high, and we will further prepare to short and enter bearish positions!), to further pressure those latecomer shorts.
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