Ethereum is holding onto the crucial area of support*Introduction | Gaining Perspective
Ethereum experienced a 10% correction between July 31 and Aug. 2, retesting the $3,000
support for the first time since July 8. This movement significantly outpaced the broader
cryptocurrency market,
which declined by 6.8% during the same period. Despite this, Ether futures open interest rose
to its highest level in seven months, speculating whether a rally to $3,600 is the next probable
move
*Narrative | Expanding Set Up Parameters
Part of Ether’s decline can be attributed to the lack of net inflows into recently launched Ether
exchange-traded funds (ETFs) in the United States.
Although there were some inflows, particularly into BlackRock’s iShares Ethereum Trust and the
Fidelity Ethereum Fund, these were offset by outflows from the Grayscale Ethereum Trust,
which has existed since before the ETF conversion
*The labels that are used are ment to draft and measure context to the price action involved
and contain no rules-engaged notebook + applied-set up indicators,
but an avoiding interference to use other rules-engaged software to enhance in general,
regarding to the watchlist and trade plan that is relevant to trade-on
*Key indicators on Trade Set Up in general;
1. Push Set Up
2. Range Set Up
3. Break & Retest Set Up
*Active Sessions on Relevant Range & Elemented Probabilities;
- Asian(Ranging) - London(Upwards) - NYC(Downwards)
- Weekend Crypto Session
