4.20 Monday Market Overview: ETH$$ETH

long positions have been reduced, remaining positions are still held for a possible rebound.

ETH18 initially opened long positions at 2306, added more positions at 2268, and earlier today also added positions to reduce the average entry price. In the afternoon, after a price spike, the market returned back near the average entry, where 70% of positions were reduced, while the remaining 30% is still being held.

The 2306 level itself was my initial long entry point, so why did I choose to add at 2268?

The reason is simple: after the market formed a W-top pattern and entered a retracement phase, 2306 acted as a valid support level. If it breaks or gets swept, the next expected support zone is around 2268. That is why I confidently added positions there to lower my average entry price and manage risk while staying in the trade.

Position management is extremely important — knowing where to add and when to exit is even more critical.

ETH is currently trading inside a descending wedge channel, with 2232 acting as the previous strong support level.

If the market pulls back again to 2232, I will consider re-entering with reduced capital to further improve the average long entry price.

Without any positions, one can look to accumulate longs at 2268, add further at 2232, with invalidation below 2164, targeting upside levels around 2300 and 2375.

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