ETH Price Battles Bulls and Bears: Caution Advised

Ethereum (ETH) market sentiment is currently volatile, with intense bullish and bearish forces battling for dominance. According to a Bitunix analyst, the ETH price is facing key support levels between $2,614 and $2,662, and investors are advised to exercise caution in their trading strategies.

The analyst's assessment is based on various market indicators. Coinglass data shows significant potential liquidation points for ETH price in the range of $2,751 to $2,774, which could intensify price fluctuations if leveraged traders face forced liquidation. The whale holdings long/short ratio is close to 1:1, indicating a market divergence on future trends and the possibility of price oscillation. The ETH perpetual contract funding rate is slightly positive, suggesting that bulls are still willing to hold positions. Ethereum spot ETF holdings remain stable, with institutional investors maintaining their allocation willingness.

The analyst predicts that ETH may oscillate in the range of $2,618 to $2,880 in the short term, given the equilibrium of long and short forces, making the market trend uncertain. To navigate this volatile market, investors are advised to trade cautiously, set stop-loss orders, avoid high-leverage aggressive trading, monitor market sentiment and funding rates changes, and adjust their strategies promptly.