Ethereum’s Farce: Will $1,929 Be Its Comic Relief?

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Ah, Ethereum, thou fickle sprite, dost dance ‘twixt $1,929 and $2,107, leaving traders in a most absurd quandary after thy weekend folly!

Behold, Ethereum hath risen from its weekend slumber, yet traders, those ever-vigilant jesters, gaze upon the chart with eyes full of mischief. They seek the liquidity pools, those hidden treasures, where fortunes may be made or lost in a blink.

The question lingers, like a poorly timed punchline: shall the price sweep the $1,929 low, or will it defy expectations and soar towards resistance? Oh, the drama of it all!

The Weekend’s Farce: A Market Structure Most Ridiculous

During the weekend, when liquidity was as scarce as wit in a fool’s tongue, Ethereum printed a low near $1,929 and a high close to $2,107. These levels, born of thin air, are but weak pivots, fit only for the most gullible of traders.

Yet, these jesters of the market cling to this range as if it were the script of a grand comedy, guiding their steps through the week.

On the grander stage, the trend remains a tragedy-lower highs and lower lows, a tale as old as time itself. Thus, short setups remain the favored act, should the price falter at resistance.

Early in the week, the price attempts to steady itself above the weekend low. But beware! Weak lows are like traps set by a cunning jester, luring stop orders into a most unfortunate fate.

The audience awaits with bated breath: shall these stops be triggered, or will the price rise with grace and poise?

The $1,929 Sweep and $2,107 Resistance: A Comic Duel

Many a trader, with eyes gleaming like a fool in love, awaits the sweep of $1,946 and $1,929 lows. These are the liquidity pools, where the real comedy unfolds. A brief dip below could clear the stops, shifting the short-term farce in a most delightful manner.

Ethereum, like a bumbling actor, tries to recover after its Sunday dump.

Just like BTC, it printed a weak ~$1,929 and ~$2,107 weekend low/high.

My trading plan for this week is that we test higher prices, but for quality longs, I’d like to see these liquidity pools mitigated first.

HTF trend is…

– Lennaert Snyder (@LennaertSnyder)

Should such a sweep occur, and the price reclaim its footing with haste, traders may aim for a return to $2,107. This level, the weekend’s high, marks the upper bound of our current comedy. A reaction there shall reveal the next act in this grand play.

But if the price rallies without sweeping the lows, the focus shifts to resistance. A test of $2,107, following a break in market structure, could present short setups most delectable. Traders shall seek signs of rejection, in keeping with the prevailing downtrend.

Related Reading: OG Whale Opens $39.4M Ethereum Short With 20x Leverage-A Gamble Most Foolhardy!

Intraday Liquidity and Holiday Shenanigans

On the hourly chart, liquidity lurks around $2,015, a potential reaction point for our intraday jesters. Acceptance above it may support continuation, while rejection offers short-term opportunities most amusing.

Market participation, alas, remains subdued due to the bank holiday. Lower trading volume, like a poorly attended play, may affect volatility and order flow. Some traders, wise in their ways, shall wait for normal liquidity conditions before joining the fray.

The broader plan remains unchanged, unless key levels are invalidated. Traders continue to treat the market as range-bound between $1,929 and $2,107, a stage most confined. The future direction shall depend on how the price reacts at these defined liquidity zones, where the true comedy of errors unfolds.

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2026-02-17 08:56