#ETH / USDT

Entry : 1720$
Targets : 1800 / 1920 / 2130$

Stop Loss : 1595$

🛑 Analysis 🛑

#Ethreaum reached the horizontal support and trendline .

Exchange : #Binance

Since February 2023, #Ethereum whales have capitalized on surging prices, offloading or redistributing over 5 million $ETH — equivalent to roughly $8.5 billion.

Notably, this selling trend continues with no current indication of a shift towards #ETH accumulation yet.

#Ethereum network gas fee drops to 17 gwei

Gas fee on the Ethereum network has dropped to 17 gwei, Now it costs $0.80 to move #ETH.

Crypto News: SatoshiVM team related wallets have currently sold 124,739 SAVMs.

Team’s Wallet 0xfdac received 420,000 SAVM (4.7m) from #SatoshiVM team wallet.

Then, 189,700 SAVM (2.12m) were transferred to 24 new wallets and currently, 124,739 SAVM have been sold at a price of 504 #ETH (1.24m).

#Ethereum Likely To Crash Below $1,000 - Benjamin Cowen.

In a new strategy session, Cowen tells his 790,000 YouTube subscribers that historically, #ETH often “tests the integrity” of its major cycle lows at least twice before moving into a new bull phase.

#Optimism bridge TVL exceeds 700,000 #ETH.

According to the latest data from Dune, the #Ethereum Layer 2 solution Optimism has bridged a TVL of over 700,059 ETH and has surpassed 341,000 total user addresses.

#Grayscale, #Coinbase meet with SEC about spot #ETH ETFs.

Sharing information to support their push to secure regulatory approval for spot ether ETFS. #Grayscale is trying to convert its Ethereal Trust into a spot ether #ETF.

Liquid restaking protocols now control almost 5% of staked #ETH, most of which was staked in 2024.

🔥$169.9M Liquidated in last 24 Hrs.

Long Liquidation : $38.7M 📈

Short Liquidation : $131.2M 📉

📊High Liquidations : (#Binance)

Longs : #BTC $4.8M, #ETH $2.9M, #SOL $2.1M, #TRB $844.0K

Shorts : BTC $17.4M, ETH $16.6M, SOL $2.3M, DOGE $1.5M

Though #ETH has still got potential to grow we are locking our profit on this Scalp Trade!

Stay tuned for more such Trades!

#ETHUSDT has been trading bearish overall inside the descending wedge, which is marked in red and green.

Currently, it is approaching the lower border of the wedge.

Additionally, $3000 is a strong and distant support. Therefore, the 3000 - 2900 range is a strong area to look for buy setups, as it is the intersection of support and lower trend lines that act as non-horizontal support.

As #ETH approaches the support range, I will look for bullish reversal setups (such as a double bottom pattern, trendline breakout, etc...) Always follow your trading plan in terms of entry, risk management, and trade management.