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$ETH ETH is currently around 2233 USDT. Do you think we should keep pushing higher or is it about time for a pullback?
If I had to give a conclusion, I’d lean more towards: a pullback first to find direction.
Here’s my reasoning:
First, this rally seems more like an emotional surge, and the follow-through hasn’t caught up yet.
Second, the order book shows some signs of stagnation; chasing aggressively isn’t worth it.
To add, if the 5-minute chart reclaims the key level, the 15-minute chart reclaims the previous high, or if a breakdown forms a higher low, that would be invalidation signals.
More comfortable entry point: 2251 USDT
Estimated target price: 2117 USDT
Support level reference: 2304 USDT
But the biggest risk at this level is a sharp drop followed by an immediate rebound.
If you were trading this, would you buy here and hold a bit longer, or just stay out?