It’s that time again, folks! Ethereum, the cryptocurrency that’s been around the block a few times, has broken above the 200-day moving average. But, and this is a big but, it’s not exactly setting the world on fire. In fact, it’s looking a bit like a damp squib 🎇.
The Technical Wizardry
By the esteemed ShayanMarkets, Wizard of Charts 🧙♂️
The Daily Chart of Doom
After a thrilling game of “will it, won’t it” between the 100-day and 200-day moving averages, ETH finally broke free from its shackles and surged past $2.5K. But, alas, the momentum was about as strong as a kitten’s mew 😺. It’s like the market was saying, “Meh, we’re not really bothered.”
As a result, we’re stuck in limbo, waiting for a decisive breakout to determine the next big thing. Will it be a moonshot or a crash landing? 🚀💥 The world holds its breath.
The 4-Hour Chart of Despair
On the lower timeframe, things are looking a bit grim. Ethereum’s rally was halted by a big, bad bearish order block between $2,625 and $2,670. It’s like the market was saying, “No, no, no! You shall not pass!” 🚫
But fear not, dear reader, for ETH found temporary solace at the $2.5K support level. It’s like the market was saying, “There, there, it’s okay. We’ll just hang out here for a bit.” 😊
The Sentiment of the Masses
By the illustrious ShayanMarkets, Wizard of Sentiment 🧙♂️
Behold! The Binance Liquidation Heatmap, a mystical chart that reveals the secrets of the market. It’s like a treasure map, but instead of treasure, it’s liquidation levels 🏴☠️.
Currently, there’s a big cluster of liquidation levels just above $2.6K, which means that Ethereum’s price might just gravitate towards it like a moth to a flame 🐜. If it does, it could trigger a short-squeeze, and we might just see ETH soar to new heights 🚀.
But, on the other hand, there’s another big liquidity pool below $2.5K, which means that Ethereum might just take a nosedive instead 🤯. It’s like the market is saying, “Heads or tails, folks?” 🤔
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2025-07-07 15:48