Yesterday, Ethereum printed another bearish leg, but after reacting to the daily support, it managed to reverse that move and form a “V-shaped” pattern — a positive signal for those of us looking for long opportunities.
Our entry trigger for ETH remains at 4,485.5, and with this recent V-shaped recovery, our confidence in that trigger has increased.
Currently, if the trigger activates, the only logical stop-loss would be around 4,220, which isn’t ideal. It would be better if ETH could form a higher low on the 1H timeframe later today, giving us the chance to enter with a tighter stop-loss.
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