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Yesterday, I shared the idea of going long on Ethereum within the 2150-2165 range. From yesterday until now, the market has basically remained within a small sideways correction, and did not retrace to our planned entry zone. The lowest point during the session was around 2173, then it rose to 2217, and is now again pulling back to around 2190 for consolidation. The overall long strategy remains unchanged; we will continue to wait for a position to be established within the 2150-2165 range.
From the market chart, the 2120~2140 zone is a previous area of high trading volume, with a large accumulation of chips. The support from buy orders below is relatively strong. Coupled with recent volume and price performance, during declines, trading volume continues to shrink, and selling pressure is not obvious. The closer the price gets to this zone, the stronger the support becomes. After a proper pullback to this level, the safety and cost-effectiveness of going long remain relatively high.
Today's strategy reference $ETH :
Still wait for a pullback to 2150-2165 to go long, with a stop loss at 2115, and targets at 2200-2220-2260.