🔍 Top Consolidation
ETH is struggling to break and hold above the $2,780-2,810 resistance
Tight range for days, indicating accumulation without clear direction
🎭 Potential Bull Trap
“AMD-style” scenario: a false breakout today followed by a sharp rejection
Upward manipulation to hunt long stops
📉 Retracement Phase
After the rejection, expect ETH to retrace the recent bullish impulse
Technical target : test the 50% Fibonacci level (~$2,350) or the OTE zone around $2,300–2,250
🚀 Mega Breakout Incoming
Once manipulation and retracement phases complete, look for a massive bullish breakout
Next upside target: reclaim highs above $3,000+
👉 Watch For :
False break above $2,810
Confirmation of 50% retracement to validate renewed bullish momentum
Volume and price action in the $2,300-2,250 zone
💡 Summary : accumulation → bull trap → healthy retracement → launch into a new bullish leg.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.