The recent Bank of Japan rate hike announcement is reshaping market sentiment, and things are getting pretty grim for ETH holders right now. On the weekly chart, the bearish setup is looking sharp – shorting looks like your best edge here.



Here's the breakdown:

**Entry**: $3030
**Target**: $2750
**Stop Loss**: $3250

The macro backdrop combined with technical weakness is painting a clear downside scenario. If you're trading on weeklies, this setup checks the boxes for a solid risk-reward play. Watch the price action around these levels – the real confirmation typically comes when volume backs the move.
ETH-0.81%
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LiquidationAlertvip
· 12-16 10:44
The Bank of Japan raises interest rates and starts to bearish on ETH, this routine is quite old... However, this time the short setup from $3030 to $2750 is indeed a bit interesting, isn't trading volume the key?
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CryptoNomicsvip
· 12-15 20:16
nah the correlation matrix here is completely off. BoJ hike ≠ automatic eth dump, but sure let's ignore endogenous market factors lol
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GasFeeTherapistvip
· 12-15 20:08
The Bank of Japan is causing trouble again, and this time ETH might really suffer... However, I'm a bit skeptical about the $3030 level; it feels like it could be swept away easily.
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BasementAlchemistvip
· 12-15 20:07
Selling the little guys again? Shorted from $3030 to $2750. How is this number calculated... A week ago, it was said to be going up.
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FUD_Vaccinatedvip
· 12-15 20:07
The Bank of Japan's recent move directly pushed ETH down, and I couldn't help but gasp at this chart... From 3030 to 2750, I'm genuinely tempted by this short, but NGL volume needs to look solid, or it’s all just paper profits.
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LayerZeroHerovip
· 12-15 19:55
The Bank of Japan's move directly hit my sore spot... Based on actual data, the weekly short structure does have some substance, but I still need to verify it with trading volume; otherwise, it's all just armchair strategizing.
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