i'm eyeing $3900 for the next ETH/USD target. i'm expecting resistance here due to a drop in buying pressure from leveraged traders. right around this level you can see 5x, 3x, and 2x leverage losing key support below their liquidation levels. i've learned that the margin trading degenerates have a great deal of influence on the market (this makes sense since their capital produces X times more buy/sell volume than a non-leveraged trader).
not sure if price will break straight for $3900 or range along the top of the channel, but you can bet it's heading there one way or another. i'd bet on the former, given the way the market looks right now.
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correction: 5x, 3x, and 2x leverage losing key support ABOVE their liquidation levels