ETH 1-Day Chart Tuesday Update #45 | What’s Next? Bounce or Break?

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If I share my thoughts, you might not like it. 🤕 Stay tuned to see where Ethereum might be heading next!

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Hey #cryptofamilyrky Are you really curious about Altseason? Is this your first time experiencing it?

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I took a look at ETH on the daily chart today, and it's really interesting how the Smart Money Concepts are playing out here. ETH has been moving within a clear Wyckoff pattern, and right now, we're at a pretty crucial point!! yeah really crucial level like do or die 💀.

So, after spending a lot of time Ethereum in the accumulation phase between $2,854.70 and $2,124.25, where big players were quietly building their positions, we saw that typical manipulation move until $2000. You know, the one where price briefly dips below support to trigger stop-loss orders and scoop up liquidity this is called SL hunt or liquidity sweep. Classic SMC move, right? But now ETH trying to bounced into the distribution zone, which is a strong sign that the breakdown was just a trap for the weak hands like shakeout 🥱.

Now, ETH is sitting around $2,680, just under that key resistance at $2,850 What happens next is going to be really telling. If we see a clean breakout above this resistance, we could be looking at a strong bullish run, potentially aiming for that monthly high resistance around $3,500 $4,000, and who knows, maybe even up to the distribution zone near $5,000 But if it struggles and gets rejected here, we might see it fall back, possibly retesting the lower boundary or even dipping back into that manipulation zone. Definitely one to watch closely in the next few days.

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