Ethereum at a Critical Crossroads: Bull Run or Bull Trap Ahead?
Ethereum (ETH) is currently sitting at a critical inflection point near $2,690, with its MACD momentum dead on zero and retail traders heavily positioned to the long side at nearly 73%.
The technical picture shows that momentum has flatlined at the exact moment price runs into resistance. The RSI is elevated but not overbought, leaving room for upside if buyers re-engage.
The Bollinger Band positioning indicates that ETH is in the upper band without touching it, with the upper band ceiling sitting at $2,799.70.
Order flow and positioning data show that retail traders are dangerously crowded to the long side, while smart money is directionally aligned but not overextended.
The next real move needs to be earned through spot demand, not leveraged FOMO.