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【$ETH Signal】No Position + Downtrend with Abnormal Open Interest
$ETH Price drops -5.86%, but open interest (OI) reaches 1.97 million ETH. Combined with the market logic of “price decline + high open interest,” this is not a healthy correction but a typical long liquidation or main force distribution pattern. The market is clearing long leverage through decline. There are no clear signs of buying absorption at this time, so avoid going long.
🎯 Direction: No Position
Wait for the price action to show a clear bottoming pattern (such as increased volume with long lower shadows, or confirmation in the hourly demand zone) or a significant drop in open interest before assessing the long-short reversal opportunity. Currently, market sentiment is leaning towards panic, and the risk of trading against the trend is extremely high.
Trade 👇 $ETH
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