#ETH Update
$ETH is testing a major resistance zone while struggling to break above it. Every recent push into this area has been met with selling pressure, keeping bulls on the defensive.
The current bounce looks more like a retest than a confirmed breakout. If ETH loses the rising trendline support, it could trigger a deeper correction and send price back toward lower support levels.
For now, I'm leaning bearish until ETH can reclaim and hold above the resistance.
The next few candles will be important.
$ETH is testing a major resistance zone while struggling to break above it. Every recent push into this area has been met with selling pressure, keeping bulls on the defensive.
The current bounce looks more like a retest than a confirmed breakout. If ETH loses the rising trendline support, it could trigger a deeper correction and send price back toward lower support levels.
For now, I'm leaning bearish until ETH can reclaim and hold above the resistance.
The next few candles will be important.