$ETH - I don’t like the overall market structure here, as the price is still struggling to break above the lost high-timeframe support range marked in purple, which also aligns with the 2D Bull Market Support Band, a strong reversal spot over the last couple of months.

However, it looks like the price may be forming a potential rising wedge on the mid-term, which could lead to a breakdown in a more bearish setting and a continuation of the downtrend into the high-timeframe support range marked in green, aligning with the early-April 2025 bottoming formation.
Because of this, my overall stance remains the same.
I’m waiting for additional confirmation before taking a more decisive stance and scaling out of my hedges in order to rotate the capital back into my spot holdings and position myself for a more durable reversal to the upside.