Ethereum has rallied back into a significant higher-timeframe supply zone around 2625-2635, where sellers stepped in aggressively and rejected price.
The chart shows a previous bearish structure followed by a corrective recovery into resistance. After reaching the highlighted supply area, price produced a strong reaction and is now attempting to move lower. As long as the supply zone remains respected, the probability of a deeper retracement remains on the table.
🎯 Bearish Targets
✅ Target 1: 2520
✅ Target 2: 2475
✅ Target 3: 2435
📊 Technical Outlook
🔹 Strong rejection from HTF supply zone
🔹 Previous bearish trend structure remains relevant
🔹 Buyers failed to sustain momentum above resistance
🔹 Potential retracement toward lower liquidity areas
⚠️ A sustained break and acceptance above 2635 would weaken the bearish scenario and suggest buyers are regaining control.
This analysis represents a possible market scenario based on price action and chart structure. Always use proper risk management.
