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07/27 18:16

The altcoin is climbing with one hand tied – spot

The altcoin is climbing with one hand tied – spot strength is real, but leverage remains a liability
Ethereum is showing signs of strong accumulation and tightening supply, but lingering leveraged positions may trigger a sharp dip before any breakout. 

Ethereum [ETH] is walking a tightrope near $3,780; a price level that’s frustrating the bears but hasn’t yet rewarded the bulls as well.

While on-chain data indicates strong accumulation, fresh liquidation charts suggest further shakeouts are ahead. With $2 billion in USDT minted and 244K ETH leaving Coinbase, big players may be positioning.

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