Major signal! After being trapped 56%, Sharplink suddenly bottom-fished. Is ETH about to change?



Be fearful when others are greedy, and be greedy when others are fearful.

On the 1-hour chart, ETH is at 1527, moving averages bearish arrangement, MACD death cross, but a bid-ask ratio of +86% shows buy-side support.

On the news front, Sharplink, with a floating loss of 56% (1.79B), received 5,000 ETH from FalconX. Just three days ago, they jointly established Ethlabs with Lubin to take over the foundation. The increase in holdings is intended to endorse new institutions.

Smart money total position is 1.6 billion, with a long/short ratio of only 34.9%, shorts dominate. However, longs have an average entry price of $1784, floating profit of 95.7% (+$196 million), while shorts entered at $2110 with a floating loss of $157 million. Longs at the bottom have made a killing.

Liquidation map shows: if it rises to 1649, short liquidations of 730 million; if it drops to 1494, long liquidations of 500 million. Currently at 1527, it is sandwiched in between.

Strategy

Longs: retrace to around 1494-1500, target around 1540-1550;

Shorts: rebound to around 1540-1550

Personal view: Institutions are adding positions under huge losses, releasing a strong bottom signal, but the technicals have not reversed yet. Caution is needed.

$ETH #美光市值超越Meta跻身全美前十
ETH-4.09%
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