$ETH - The price has rejected at the lost high-timeframe support range I marked in some of my prior PAT Updates, which also aligns with the 2D Bull Market Support Band sitting at $2.18K.

On the mid-term, it seems that since early February the price may be forming a rising wedge, which is concerning.
Because of this, until there are clear confirmations of a durable breakout above this lost high-timeframe support range and above the 2D Bull Market Support Band, I believe the best approach is to remain conservative, cautious, and hedged.
For now, I will remain hedged in order to mitigate the mid-term downside risk, since the most likely outcome remains further consolidation around the lost high-timeframe range or a continuation of the high-timeframe downtrend we have been in over the last couple of weeks toward the high-timeframe support range aligning with the early April 2025 lows around $1.5K.