$ETH DROPS TO $2,060 AND BOUNCES BACK! IS A RECOVERY SETUP FORMING?
I'm watching Ethereum closely on the 15M chart. ETH is currently trading around $2,138.52, down 4.40% over 24 hours after a sharp selloff from the $2,246 area.
Buyers stepped in aggressively near $2,060, triggering a rebound. However, ETH is still trading well below its previous levels, so I want to see stronger confirmation before calling a bullish reversal.
Key Market Levels:
- Current Price: $2,138.52
- Immediate Support: $2,120
- Support 2: $2,091.62
- Major Support: $2,060
- Immediate Resistance: $2,173.46
- Major Resistance: $2,214.38
- Higher Resistance: $2,246
Volume & Market Participation:
24H Trading Volume: $468.29M
24H ETH Volume: 216,708.43 ETH
24H Change: -4.40%
The sharp drop followed by a strong bounce shows active trading and buying interest near the lows. However, sustained buying pressure is needed to support further recovery.
My Trading Plan:
I'm watching the $2,120–$2,091 zone for a potential spot accumulation opportunity.
If ETH holds support and reclaims $2,173 with strong buying momentum, I'll watch for a move toward $2,214 and potentially $2,246.
A breakdown below $2,060 would invalidate my bullish recovery setup.
My Take:
I'm not chasing this bounce yet. I want to see $ETH reclaim resistance and establish stronger support before adding exposure.
The next move around $2,173 could be important in determining whether Ethereum starts a meaningful recovery or faces another wave of selling pressure.
I'm watching Ethereum closely on the 15M chart. ETH is currently trading around $2,138.52, down 4.40% over 24 hours after a sharp selloff from the $2,246 area.
Buyers stepped in aggressively near $2,060, triggering a rebound. However, ETH is still trading well below its previous levels, so I want to see stronger confirmation before calling a bullish reversal.
Key Market Levels:
- Current Price: $2,138.52
- Immediate Support: $2,120
- Support 2: $2,091.62
- Major Support: $2,060
- Immediate Resistance: $2,173.46
- Major Resistance: $2,214.38
- Higher Resistance: $2,246
Volume & Market Participation:
24H Trading Volume: $468.29M
24H ETH Volume: 216,708.43 ETH
24H Change: -4.40%
The sharp drop followed by a strong bounce shows active trading and buying interest near the lows. However, sustained buying pressure is needed to support further recovery.
My Trading Plan:
I'm watching the $2,120–$2,091 zone for a potential spot accumulation opportunity.
If ETH holds support and reclaims $2,173 with strong buying momentum, I'll watch for a move toward $2,214 and potentially $2,246.
A breakdown below $2,060 would invalidate my bullish recovery setup.
My Take:
I'm not chasing this bounce yet. I want to see $ETH reclaim resistance and establish stronger support before adding exposure.
The next move around $2,173 could be important in determining whether Ethereum starts a meaningful recovery or faces another wave of selling pressure.
