Tonight I closed my Ethereum position - pretty much exactly at the resistance level of USD 3,600. Technically, this is a level that has been tested several times and has so far proved to be a ceiling. No clean close above the area, no confirmation on a weekly basis.
I currently see:
- Bearish divergence on the RSI
- No significant rise in the altcoin dominance chart
- Low volume during the last upward movement 📉
For me, this suggests a short-term breakout rather than a sustained trend change. I also don't see any on-chain signals for the start of an altcoin season.
Strategically, I am heading towards Bitcoin only in the long term anyway - selling ETH here at a profit fits perfectly into my overarching portfolio strategy 🔒
What do you think - was it just the calm before the real move?
