ETHUSDLONGS
On the chart, there was a sharp collapse in ETH longs. This is a likely signal for a subsequent correction of the coin.
But this does not mean at all that the collapse will happen tomorrow or within a week. Perhaps the correction will follow only after six months.
If there is an update, we will notify you.
Don't forget to show your support by...
ETHUSDLONGS
Thoughts
At the moment, we are seeing a new surge of interest in ETH long positions from traders. This growth is extremely interesting, because the last time such "green" sentiment was observed at the beginning of 2023, after which we saw a strong drop and subsequent consolidation almost 4 months long.
The growth of longs will mark an increase in...
The ETH long to short ratio can tell us a lot about positions in the market and the corresponding impact on price. When this ratio is over .5 start to worry. When it moves into the high water mark, it is time to start closing longs and building shorts. This is a long term perspective and not for short term traders.
Not that we are at the bottom yet, but whales are beginning to accumulate. I believe there will be more downside over the next few weeks. but when this is up 32% already today, somebody sees this as a buying opportunity.
notice the pattern, 2 large buying days plus 40 days from the first large purchase date, has signaled a local ETH bottom.
Following that...
Notice the ETHUSDLONGS vs ETHUSD
When the longs close their positions rapidly, this has indicated the local top is completed.
And as you can see the longs have rapidly closed. Prepare for a local top in ETH.
Good Luck
According to Elliot wave theory eth had completed its ABC corrective waves and now we are in impulsive wave 1. 2nd wave will be corrective wave so be ready guys for short targets.
Publishing my outlook on Ethereum for the next month or two. If I had to guess, this does another fake out short-term before both equities + crypto go through their capitulation stage.
Expecting ETH to reach the 440-530 range before it's starts a true accumulation range.
Note : all lines drawn on the 3d, but want to publish in the 1d chart for daily...
This is my analysis on #ETH #Ethereum and why I think we are about to see a mighty dump to close the shorts accumulated since MAY. It might not happen all at once. Keep an eye on the longs.
Eth has been moving in a long term Fib trend while following a macro Elliot wave.
I think well see quite a bit more consolidation as the 4th wave finishes its sequence.
As ETHUSD Longs continue to rise, almost 200% today... I am going long with big bags of ETH with no target less than a new ATH, otherwise the recent one.
Ethereum is forming triangle pattern. If the upper boundary breakout the triangle, we can see definitely good potential for long entries with target 3000-3200$.
On the other side if the price breaks out the lower boundary of the triangle we can see test and break of 2000$-1800$
In a Daily chart ETH/USD found support at the previous key area of interest, it is...
