#ETH Back to $3,800# u #ETH# Update

All we need to do is keep our distance. Ethereum has broken away from a four-year trend and retested it, without closing below that trend for two consecutive days. The high of 4000-4100 will no longer act as resistance. ETH will break through this range and will not stop until it reaches around the midpoint of 4400. This level is also the peak from May 2021. Of course, the next target will be the historical high of 4860.
At some point, possibly at the end of August or in September, ETH may retest the ascending trend line currently at 3080. The trend line will cross 3200 in early September.
Check the 2-year liquidation chart (. In fact, this is not a true liquidity chart, but just a reference ). Liquidity has exceeded the previous high of 4100, concentrated at 4160, and extended to 4260.
When zooming in, we can see that the liquidity has increased to 4500, and the most important liquidity has been cleared today.
I also want to remind you about the important aspects of the liquidity heat map, which are relevant to all crypto assets. The yellow area below 3000 is currently not significant. The liquidity zones act like magnets, according to the physical formula I = 1/d², where the strength of the magnet is inversely proportional to the distance. At 3850, we cannot assume that market makers will withdraw at 2850, because that area is 30% away from the current price and is currently irrelevant.
CVD did not show support for Spot, but after the New York opening, ETH may continue to rise with the entry of ETFs.
Currently, each move towards the 3500-3600 range is a buying opportunity. If we can test 3350 again, it would make us even happier, but I think at this stage most people will fall behind. #Gate Launchpad List IKA# #Simple Earn APY Breaks 24%#