Yesterday I shared with everyone the idea to enter a long on ETH above 1870. The technical support signals for this entry level are very clear. On the 4-hour timeframe, price briefly pierced below the rising channel’s lower band around 1865; after just a quick dip downward, it immediately reversed and started a rebound. Switching to the daily chart for the larger cycle, the market also pulled back to the daily rising channel’s lower band at the key support level of 1850. With support lines from both the larger and smaller timeframes resonating, the buy-the-dip takeover strength at the bottom looks strong as well—this also confirms that our low-long idea is on point $ETH

Supported by the support-based layout, the long position delivered a solid move in the afternoon. In the afternoon, the high reached around 1910, putting in more than 30 points of profit. However, we should also be objective about the market’s shortcomings: although the overall bullish structure inside the rising channel has not been damaged, the recent upward momentum from the bulls hasn’t been keeping up. The rally pace has been relatively slow overall. After pushing up to 1910, there’s been a lack of sustained incremental capital to drive further gains. The price has now fallen back again to the channel’s lower-band support zone, trading in a range there.

Brothers who entered according to the strategy, remember to set your defense properly and hold patiently while watching. If there are changes to the market afterward that require adjustments, I’ll notify everyone as soon as possible during the session.