ANALYSIS #ETH ON 28/05: THE PULLBACK TO 2,000 IS NOT OVER – WILL MM PUSH IT UP TO DUMP?
#ETH is clearly weak on M30–H1. The price has just been pushed down close to the 2,014–2,000 range, right in the area where stop-loss hunts are likely to occur. The highest probability view for the next 24 hours: hunt 2,000 ±10 then technical bounce up to supply zone 2,055–2,078, and only then decide whether to dump further or squeeze.
Short-term 24h:
Do not chase long at 2,020. Do not chase short below the bottom wick.
Preferred setup: wait for ETH to bounce up to 2,055–2,078 then look to SHORT down, with SL above 2,103, TP1 at 2,022, TP2 at 2,002, TP3 at 1,956.
Long trades should only scalp if ETH wicks down to 1,995–2,005 then M15 closes above 2,028–2,034. At that point, go long aiming for TP 2,055–2,078, with SL below 1,985.
3-week outlook:
If $ETH loses 1,995, the major target is 1,955 and then 1,903. If it holds 1,900–1,955, it could create a bottom bounce back to 2,136–2,250.
#ETH is clearly weak on M30–H1. The price has just been pushed down close to the 2,014–2,000 range, right in the area where stop-loss hunts are likely to occur. The highest probability view for the next 24 hours: hunt 2,000 ±10 then technical bounce up to supply zone 2,055–2,078, and only then decide whether to dump further or squeeze.
Short-term 24h:
Do not chase long at 2,020. Do not chase short below the bottom wick.
Preferred setup: wait for ETH to bounce up to 2,055–2,078 then look to SHORT down, with SL above 2,103, TP1 at 2,022, TP2 at 2,002, TP3 at 1,956.
Long trades should only scalp if ETH wicks down to 1,995–2,005 then M15 closes above 2,028–2,034. At that point, go long aiming for TP 2,055–2,078, with SL below 1,985.
3-week outlook:
If $ETH loses 1,995, the major target is 1,955 and then 1,903. If it holds 1,900–1,955, it could create a bottom bounce back to 2,136–2,250.