The Setup (SHORT $ETH):
• Entry Zone: $1,875.00 – $1,885.00
• Invalidation / Stop Loss: $1,915.00
• Target 🎯 1: $1,853.50
• Target 🎯 2: $1,830.00
• Target 🎯 3: $1,800.00
The Market Narrative:
Ethereum has faced immense downside pressure amidst a broader market liquidity drain and tightening credit conditions. Sellers have aggressively overwhelmed spot demand, driving prices into a fragile consolidation phase just above recent lows.
The Technical Breakdown:
On the 1-hour chart, $ETH completely lost its bullish market structure by violently breaking below the crucial $1,910 horizontal support zone via massive red expansion candles. This breakdown was accompanied by severe downside momentum, confirming intense distribution and a decisive shift in trend control.
The current price action reveals a weak relief bounce capping near $1,880, indicating that bulls are exhausted and sellers are reloading positions for the next leg down. As long as price remains capped below the structural invalidation at $1,915, entering short on this minor rally offers a strong risk-to-reward setup targeting the previous macro swing lows at $1,853.50 and lower liquidity pools.
Do you think $ETH will bounce from here, or are we going straight down to test $1,800? Drop your predictions below! 👇
#cryptotrading $ETH #Ethereum #TechnicalAnalysis
Disclaimer: This is for educational purposes only and is not investment advice. Always do your own research and manage your risk.