This wave of altcoins has me feeling a bit down. WLD has dropped 11.8%, and NEAR and AVAX are tanking like they've taken laxatives. I'm zeroing in on one coin: $ETH .
Right now, ETH is priced at 1626, and the lower Bollinger Band on the hourly chart is around 1608. The price is currently stuck between the middle and upper bands, consolidating with low volume. It looks a lot like the whales are stepping on the gas before a pump, flushing out the long positions. You ask why I believe this? The funding rate has been negative for several days now, and retail longs are basically getting wrecked. But the Bollinger Bands aren't wide open—this doesn't scream waterfall; it feels more like a shakeout after all the longs get blown out.
I’m not bullish or bearish, but the risk-reward ratio for betting on an ETH rebound is better than chasing shorts right now. Don’t ask me about stop losses; just control your hands. #链上数据 #DeFi #spot
Right now, ETH is priced at 1626, and the lower Bollinger Band on the hourly chart is around 1608. The price is currently stuck between the middle and upper bands, consolidating with low volume. It looks a lot like the whales are stepping on the gas before a pump, flushing out the long positions. You ask why I believe this? The funding rate has been negative for several days now, and retail longs are basically getting wrecked. But the Bollinger Bands aren't wide open—this doesn't scream waterfall; it feels more like a shakeout after all the longs get blown out.
I’m not bullish or bearish, but the risk-reward ratio for betting on an ETH rebound is better than chasing shorts right now. Don’t ask me about stop losses; just control your hands. #链上数据 #DeFi #spot