I have to say that $ETH at $3159.08 just experienced a classic stop-hunt, and they are clearing out impatient traders before the next directional move. This is a level I’ve marked for days and my analysis shows strong reactions whenever price dips into this zone.
EP: $3110 – $3160
TP: $3260 / $3380 / $3520
SL: $3020
Why you need to monitor this closely is because a clean reclaim of $3200 can flip the short-term bias back to bullish. I’m not chasing weakness, I’m waiting for strength to return.