Technical analysis by thecafetrader about Symbol ETH on 8/2/2025

Hello I am the Cafe Trader. Today we are taking a close look at Ethereum. After the Tariff news and the Jobs report, The market as a whole seems very bearish suddenly to many. Even though we do have aggressive sellers in the short term, The market is still bullish in the mid to long term. Let's take a look. Sentiment has changed A major catalyst (like the Tariffs news) can cause a change of terrain. Buyers may become more bashful, taking their foot off the gas (where the put it before). Reactions to kry levels (like "top of demand") will give us clues into how strong are they still. Short Term ETH had a huge rally, Whats does a healthy rally need for a continuation? Consolidation This brings us to the charts Top of demand gives us evidence of how convicted these current buyers still are in a market. A hot reaction = Aggressive Demand. Cold Reaction = Hesitant or lack of Demand. Todays close was a touch cold, but considering the recent bearish news and data, not terrible. Buyers are still active in this area, but since the terrain might have changed, I have given you two scenarios. Green Scenario For this to play out, we need to see buyers step in immediately. The longer ETH stays in this demand, the heavier they will become (and it's a long way down) Wait for a second test minimum. Best to get a hot reaction. If it presses into the demand zone, Cut it early. (always good to wait for a close) Entry 3,518 Stop 3,360 TP 1 3,990 TP 2 Breakout? Trailing stop? Red Scenario If we can't close above top of demand (Like tomorrow...) This is the likely scenario. I would be hard pressed to try and catch a knife this overextended. So until we identify where the new sellers are sitting, I can't give you any trades on this scenario. If you are short biased this could run all the way down to the bottom of demand. I'll keep a close eye this over the weekend and keep updates. Long Term These prices should be according to your personal sentiment on ETH. Aggressive = 3,500 Good price = on the trend roughly 2,900 - 3k STEAL = 2,200 - 2,400 That's all for ETH! Enjoy your weekend, and Happy Trading! thecafetraderWe cracked the top of Demand, although there are still buyers there, We really want to see some new aggressive buyers step in. We will know in the next couple of days. All these points are still in play. I do see that the trade idea would've gotten stopped out. Although I do think this trade is still viable. Still in between for me though. Let's see how these next couple of days sit.Eth is Very close to the Take profit, This let's wait for the full TPBeautiful trade. Worked out perfectly (minus getting close to our stop.) ETH looks to continue on, All time highs are surely in bound for ETH.