ETH’s Predator Move on the 30min time rame

This is ETH on the 30min timeframe over the past 3 weeks.

It started on Monday, July 28, when price was rejected at the $4K resistance after a Sunday night pump. What followed was nearly half a week of chop, then a drop that found support at the 0.5 Fib = $3391 (the midpoint between the 0.382 and 0.236 levels). From there, ETH rallied +43% to its ATH.

Last week, the same scenario repeated: price rejected from ATH (0 Fib), chopped half a week, then fell Sunday night, this time finding support at the 0.5 Fib = $4303 (the midpoint between the 0.236 and 0 levels).

Now the question is: will this 10% drop be enough to reload for another attempt at ATH, or will price need to retrace deeper to gather the liquidity needed?

One thing is certain: this is a leverage flush. If you’re riding high leverage, understand that you are the prey, and price is the predator. To survive, you need to shed some leverage weight before it catches you.

Always take profits and manage risk.
Interaction is welcome.