ETH Traders’ $2.8K Frenzy 🤑

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As I sat in my armchair, sipping my tea and staring at the charts, I couldn’t help but think of the wise words of my old friend, “The market is a cruel mistress, she will take your money and leave you for dead.” 😂

But I digress, Ethereum, the darling of Wall Street, has been on a tear lately, blasting past the $2.8k resistance like a hot knife through butter. 🚀

The investors, those clever devils, have been HODLing on for dear life, and who can blame them? The ETH/BTC pair has been recovering, a sign that the leading altcoin is gaining strength against the mighty Bitcoin. 💪

And let’s not forget the spot ETF inflows, nine consecutive weeks of positive growth, solidifying Ethereum’s status as the belle of the ball. 🎉

But, my dear friends, don’t get too comfortable, the psychological $3,000 level is still a sizeable barrier, and BTC’s price discovery mode means that ETH will soon follow it higher… or will it? 🤔

The weekly chart shows Ethereum blasting past a bearish order block (cyan) at the $2.8k mark, signifying intense bullishness and buyer eagerness. But, as we all know, pride comes before a fall, and swing traders might have to wait for a retest of the $2.8k region as support before entering long positions. 😬

The Gap in the South

The weekly surge has left a gap to the south that might need to be filled before the next rally. Ah, the eternal question, will the gap be filled, or will the bulls keep on running? 🤔

The 12-hour chart shows that Ethereum did not trade at the $2.8k resistance zone for long during the rally in July, reinforcing the chance of a minor dip in this demand zone before the next rally. But, as we all know, the market is unpredictable, and a bearish divergence could develop over the next few days, warning traders to beware. 😨

The CMF is at +0.23, indicating sizeable capital inflow to the market and signifying that buying pressure is dominant. Ah, but will it last? 🤔

The 1-month Liquidation Heatmap shows dense liquidity clusters above the $3k mark, magnetic levels that often attract price action. Ethereum appears poised to chase them down, but will it succeed? 🤔

In contrast, the liquidity band at $2,880 is faint, a mere whisper in the wind. While it could briefly pull prices lower, the real action is stacked to the north. 🚀

And so, my dear friends, we are left with the eternal question, will the bulls keep on running, or will the bears take control? 🤔 One thing is certain, the market will do what it wants, and we will be left to pick up the pieces. 😂

Traders, prepare for either move—a continuation to $3.2K or a clean retest before the push. And remember, the market is a cruel mistress, she will take your money and leave you for dead. 😂

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2025-07-14 05:20