$ETH ETH pulled back by $40—should we panic or get greedy? 📉🧐

Brothers, hello—Jingshen is here! Tonight, ETH dipped from 1953 to 1909, and many people are starting to panic.

But after taking a look at the data, I actually feel this adjustment is very healthy 👇

1️⃣ Downward move on low volume—shorts didn’t really put in effort
Today’s trading volume is only half of the average volume, which suggests there simply isn’t any big money dumping. This kind of low-volume selloff is more like longs proactively shaking the market to clear out uncommitted positions.

2️⃣ Leverage has been cleared out cleanly
Open interest fell from 2.47 million to 2.36 million, and the funding rate dropped to around 0.001%, almost zero. The retail traders who chased longs before have basically been washed out, and market sentiment has returned to calm—doesn’t this sound like the prelude to the main force’s next run?

3️⃣ The bigger trend is intact
On the daily timeframe, price is still firmly holding above MA30 (1883). The long-side trend hasn’t changed at all. In the 1900–1910 range, today has already validated strong support.

📌 My take:
As long as 1900 doesn’t break, this isn’t a place to cut and run. Instead, it’s an area to watch for signs of stabilization and to get in gradually. The upside target first looks at 1930; if it breaks through, then we can look at the prior high at 1953.

💬 Brothers, do you think this pullback is over and it’ll keep pushing higher, or do we need to go test 1880? Drop your thoughts in the comments! ‌