$ETH This wave was just pulled hard by funds, it's not the kind of rise that has sustained momentum, and the follow-up strength is clearly insufficient.
Now it's stuck around 3140, oscillating back and forth, both bulls and bears are quite entangled.
First, let's look at the key levels:
3140 is short-term support
If it holds: It's very likely to oscillate between 3140–3155
If it doesn't hold: It will quickly drop to 3130, and further down is 3120–3100
The pressure above is also very clear:
3155–3160 is the hourly level resistance
3165–3170 is basically the strongest point of the day, if it doesn't break through with volume, it is more likely to reverse
This segment rose quickly, but without volume, it's a typical impulse market, it should take a break, don’t expect it to move like yesterday's one-sided trend.
What feels more comfortable to do:
Want to go long: Wait for a pullback to 3125–3135 to stabilize before entering with a small position, set a stop loss below 3120, target 3155–3160
Want to go short: If it rebounds to 3160–3170 and gets stuck, you can try a light short position, stop loss above 3170, target 3130–3120
Now is not the time to chase the rise, it's about playing the range market, being anxious can easily lead to losses. Be steady, opportunities will naturally arise.
Continue to watch: $pippin $MYX
