Ethereum’s Price: A Tragicomic Ballet of Bulls and Bears 🕺📉

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Ethereum, that most fashionable of digital assets, has been waltzing upwards with the grace of a debutante at a crypto ball, yet one cannot help but notice the faint scent of exhaustion wafting through its lower timeframes. A deep pullback looms, like a poorly timed yawn during a toast to the market’s health. 🤡

The Daily Chart

ETH, in its current dalliance with consolidation, clings to the $4,000 chandelier with the desperation of a Victorian poet clutching a last shilling. The $3,400 support zone is defended with the vigor of a man who’s just discovered his ex’s new crypto wallet. Meanwhile, the 100-day moving average, that most ardent of suitors, curls upward like a Victorian glove reaching for a handshake. 💃

If ETH dares breach the $4,100 resistance (a 2024 high, as thrilling as a new season of *Bridgerton*), it may yet reclaim its throne. But should it falter at $3,400, the descent toward $2,800 will be as inevitable as a Wildean tragedy.

The 4-Hour Chart

ETH’s recent flirtation with $3,700 ended in a farcical rejection, a double tap of equal highs that suggests the bulls are as exhausted as a novelist on deadline. The lower high and low now form a pattern as ominous as a cryptic letter from a rival. Should $3,500 crumble, the bears will descend with the enthusiasm of a crowd at a free airdrop. But if $3,700 is reclaimed, perhaps we’ll witness a masquerade to $3,900. 🎭

Open Interest

Open Interest, that most gossipy of market indicators, has begun to wane after peaking at $28B-a polite retreat as if the market were excusing itself for a breath mint. Yet the broader trend remains bullish, like a society page that refuses to acknowledge a scandal. Traders still play with derivatives as if they’re auctioning off their souls, but even Wilde might agree: moderation is the spice of life. 🗣️

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2025-08-06 18:14