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$ETH ETH is currently around 2037 USDT. Do you think we should keep grinding higher, or is it about time to take a break?
If I were to give a quick conclusion, I’d lean more towards: it looks like a high-level divergence, not suitable for continuing to chase long positions.
Here’s my reasoning:
First, the price is already close to the resistance zone, and the upside potential and risk-reward ratio are average.
Second, the high-level divergence is starting to widen, making a short-term shakeout more likely.
Additionally, I focus on three types of short positions: failed breakouts, end of rebound traps, and key support breaks.
My target entry point to watch: 2053 USDT
Initial take-profit level: 1931 USDT
Support level for reference: 2102 USDT
But the biggest risk at this level is a sharp drop followed by an immediate rebound.
If you were trading this, would you go long first, watch a bit longer, or just stay out?