#ETH Back to $3,800# u #ETH# update

All we need to do is keep our distance. Ethereum has broken away from the four-year trend and retested it, without closing below that trend for two consecutive days. The highs of 4000-4100 will no longer serve as resistance. ETH will cross this range and will not stop until it reaches around 4400, which is also the peak from May 2021. Of course, the next target will be the historical high of 4860.
At some point, possibly at the end of August or in September, ETH may retest the upward trend line currently at 3080. The trend line will cross 3200 in early September.
View the 2-year settlement chart (, this is not an actual liquidity chart, but just a reference ). The liquidity has exceeded the previous peak of 4100, concentrated at 4160, and extended to 4260.
When zooming in, we can see that liquidity has increased to 4500, and the most important liquidity has been cleared today.
I also want to remind you about the important matters regarding the liquidity heat map, which is relevant to all crypto assets. The yellow area below 3000 is currently not significant. The liquidity zones act like magnets, following the physical formula I = 1/d², where the strength of the magnet is inversely proportional to the distance. At 3850, we cannot assume that market makers will withdraw at 2850, as that area is 30% away from the current price and is currently insignificant.
CVD has not shown support for Spot, but after the New York opening, ETH may continue to rise with the entry of ETFs.
Currently, every move towards the 3500-3600 area is a buying opportunity. If we can test 3350 again, that would make us even happier, but I think at this stage most people will fall behind. #Gate Launchpad List IKA#