🧬$ETH DEPOSIT 40,000 ON BINANCE, will they definitely sell now, should I press short?
Let's look at the facts:
The growth is supported by the volume, on minimal rollbacks the volume decreases (the balance is in favor of demand). 3000-3120 is a large pool of purchase blocks, the volume delta and cumulative delta validate this. I will not count how many applications were placed there with pending orders, but the support is massive enough to keep the quote above 3k. It will not be possible to beat these buyer blocks just like that, given the current market and external agenda.
There is a small limit wall of 3220-3250 from sales, and there is also a retail cohort that is trying to catch a reversal, their liquidations are slightly above the sellers' area. From all of the above, we can assume that the big guys don't have a priority to lower the overbought $ETH , according to retail. Tuesday is a rest from macro, Wednesday is consumer inflation, Thursday is industrial inflation, and then they will show the prospects for these purchases.