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Spotted something interesting in ETH's order book depth - the sell side is stacking up noticeably thicker than buy orders right now.
What's weird? Price isn't cracking yet. It's just... hovering. Meanwhile the underlying structure keeps getting weaker.
This kind of divergence typically plays out one of two ways: either we get a lazy drift downward as sellers chip away at support, or somebody triggers a violent squeeze that catches all those resting shorts offside.
Either way, the current equilibrium won't last.