I’m getting short term bearish vibes from ETH here.
Yes, the bigger move was very strong, but after that explosive rally from the $1,900 area, ETH now looks like it is losing momentum near the highs.
What I see on this chart is simple:
ETH made a huge vertical move up
Then it started moving sideways near the top
And now price is struggling to push higher with conviction
That kind of structure often means buyers are getting exhausted.
Right now ETH is sitting around $2,456.
For me, the bearish case becomes stronger if ETH starts losing the nearby support zone around $2,440 to $2,450.
If that breaks, I would watch these downside areas:
$2,440 first
$2,400 next
$2,360 after that
Why bearish?
Because after such a sharp move, price is no longer trending aggressively upward
It is consolidating near resistance
And repeated failure to break above the $2,500 to $2,520 area could lead to a pullback
So personally, I would be careful here.
I do not see a very attractive long setup unless ETH reclaims strength and breaks cleanly back above $2,500 to $2,520.
Until then, this looks more like a market that could roll over than one ready for another strong leg up.
Not financial advice.$ETH
Yes, the bigger move was very strong, but after that explosive rally from the $1,900 area, ETH now looks like it is losing momentum near the highs.
What I see on this chart is simple:
ETH made a huge vertical move up
Then it started moving sideways near the top
And now price is struggling to push higher with conviction
That kind of structure often means buyers are getting exhausted.
Right now ETH is sitting around $2,456.
For me, the bearish case becomes stronger if ETH starts losing the nearby support zone around $2,440 to $2,450.
If that breaks, I would watch these downside areas:
$2,440 first
$2,400 next
$2,360 after that
Why bearish?
Because after such a sharp move, price is no longer trending aggressively upward
It is consolidating near resistance
And repeated failure to break above the $2,500 to $2,520 area could lead to a pullback
So personally, I would be careful here.
I do not see a very attractive long setup unless ETH reclaims strength and breaks cleanly back above $2,500 to $2,520.
Until then, this looks more like a market that could roll over than one ready for another strong leg up.
Not financial advice.$ETH
