#ETH #ETHETFs $ETH
Hey, guys.
A quick update on Ethereum.
As expected MM had a selloff on the ETFs launch. I remind you that we read the formation of a local sidewall and told you that only when breaking the zone 3550 you can work with Long, there was no entry point and the instrument synchronously with the rest of the market tested the support in the zone 3200.
I opened a long position at 3170 and at the moment it is in a small plus. Ethereum looks stronger than bitcoin right now.
The liquidity stop zones that are saturated with liquidations are at the 3100 levels, and I admit that it may move into this zone before it starts to rise. The second zone where there will be massive liquidations is at the 3500 level.
On the cluster chart we can see that limit orders are prevailing now, which tells us about the exit from shorts.
I still expect medium-term growth around 4000-4500. Cancellation of all this scenario will be the departure and consolidation below 2800.
Stay tuned.