Looking at ETH's recent trend, I think this breakout is more likely just a rebound.
Why do I say that? Mainly because the previous sideways consolidation lasted too long, and combined with this strong reversal market, the bears have been mostly wiped out, and everyone is turning to the bulls. But markets can deceive, and candlestick charts can easily create illusions. Remember how it looked when it dropped from 2620, and you'll understand.
My prediction is that ETH will form an upper shadow around 3350 and then continue downward. If you still hold short positions, there's no need to rush to cut losses; you can hold on. The decline will be very fast when it breaks through, and that will be an opportunity to get in.
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RugResistant
· 9h ago
nah analyzed the chart thoroughly here—red flags detected all over this bounce narrative. commons attack vector in these consolidation traps, everyone gets fomo'd into longs right before the rug. 3350 rejection pattern? that's textbook liquidity grab setup fr. DYOR but the unsafe implementation here is holding bags through breakdown—velocity on those dumps always catches people sleeping.
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DeadTrades_Walking
· 9h ago
It's the same old story, always saying it will drop, but what happens?
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DegenWhisperer
· 9h ago
It's the same old story, always talking about a rebound, but what happens in the end?
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LiquidationWatcher
· 9h ago
I'm also watching that 3350 line, but there aren't many people daring to continue holding short positions.
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TokenCreatorOP
· 9h ago
It's either a rebound or a trap; I'm tired of hearing this explanation.
Looking at ETH's recent trend, I think this breakout is more likely just a rebound.
Why do I say that? Mainly because the previous sideways consolidation lasted too long, and combined with this strong reversal market, the bears have been mostly wiped out, and everyone is turning to the bulls. But markets can deceive, and candlestick charts can easily create illusions. Remember how it looked when it dropped from 2620, and you'll understand.
My prediction is that ETH will form an upper shadow around 3350 and then continue downward. If you still hold short positions, there's no need to rush to cut losses; you can hold on. The decline will be very fast when it breaks through, and that will be an opportunity to get in.