I'm watching $ETH closely after its recent intraday recovery started losing momentum. Price pushed toward the $2,430 region but failed to maintain strength, and sellers are now pulling it lower.

ETH is currently trading at $2,420.51, below the MA60 at $2,423.47.

What interests me here is the rejection around $2,425.41, followed by a move below the moving average. The latest bounce looks relatively weak, while trading volume has cooled compared with the earlier buying activity.

My Trade Setup (Conditional SHORT)

📍 Entry: Below $2,420.51 after bearish confirmation.

🎯 TP1: $2,416.18

🎯 TP2: $2,411.56

🎯 TP3: $2,406.94 (extended target)

🛑 Invalidation: Sustained recovery above $2,425.41.

A move back above this level would weaken my bearish setup and suggest buyers are attempting to regain control.

ETH is already down 0.79% over 24 hours, but the visible intraday structure still shows an earlier strong recovery. That makes confirmation important before treating this pullback as a larger reversal.

I'm watching whether $2,420 gives way convincingly. If sellers maintain pressure, $2,416.18 becomes my first area of interest.

No need to chase the move. I'd rather wait for a clean breakdown.