#ETH# update

We just need to broaden our horizons. Ethereum has broken a four-year trend and has backtested without closing below that trend for two consecutive trading days. The high point in the 4000-4100 range will no longer act as resistance. ETH will cross this range and will only stop around the mid-region of about 4400. This level is also the high from May 2021. Of course, the next target will be the historical all-time high (ATH) of 4860.

At some point in time, most likely at the end of August or September, ETH may retest the current uptrend line at 3080. This trend line will cross 3200 at the beginning of September.

View the 2-year liquidation heatmap (, which has never actually been a real liquidity chart, but rather a reference ), with liquidity concentrated above the previous high of 4100, extending to 4160 and reaching 4260.

After zooming in, we can see that more liquidity has formed around 4500, and the most important liquidity has been cleared today.

I also want to remind you of an important thing about the liquidity heat map, which is valid for all crypto assets. The yellow area below 3000 is currently not significant. The liquidity zones work like magnets, as shown by 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 sweep 2850, because that area is 30% away from the current price and is currently insignificant.

CVDs did not show the spot support for the latest trend, however, ETH may continue to rise with the inflow of ETF funds after the New York open.

At this point, any movement into the 3500-3600 range is a buying opportunity. If we can retest 3350, that would be even better, but I think most people will be left behind during this wave.