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Evening of 12.03.
ETH’s 2-hour chart has formed a distinctive pattern, haha 😂. The current price is 3081. Yesterday's strong rally was really impressive!
That being said, the market hasn’t broken through the previous high of 3125 as of tonight. We need to wait and see what happens during the US session. Today’s highest was only around 3085. There’s resistance above at 3100-3120. As shown in the second chart below, if it breaks above 3150, it could trigger $542 million in liquidations.
If ETH still can’t break above the previous high of 3100-3120 tonight, be ready to retreat and go short at any time!