In recent weeks, Ethereum has been one of the strongest performers in the cryptocurrency market, gaining nearly 240% from its April low.

The first entry point that met strict technical and market criteria was identified in early July, and since then, that position has gained approximately 70%. A second entry opportunity was highlighted in early August, delivering a 25% increase.

Currently, the price is trading just below its all-time high (ATH). The question now is whether it could still offer an attractive opportunity at this level.

Ethereum technical analysis

ETHUSD - 1 Day Time Frame

For those evaluating Ethereum at its current price, one approach could be to divide the intended transaction volume into two equal parts. The first portion could be executed at the current level, while the second portion could be reserved for a potential price correction — similar to the earlier August entry point, marked on the attached chart at the upper orange support zone.

This method can help manage risk more effectively. Committing the full position size at a relative peak could result in a larger loss if the price later moves down to the Stop Loss level. Reserving half the position for a potential corrective entry could reduce overall exposure and potentially enhance returns, as a lower second entry would reduce the average entry price and improve profit potential.

A Stop Loss could be positioned below the internal higher low, as indicated on the chart. The profit target remains at the Buy-Side Liquidity level, specifically near the all-time high (ATH).

It is important to note that this setup is occurring within what could be considered a premium pricing zone, and therefore, the position should be approached with caution.