$ETH IS TRYING TO RECOVER AFTER A SHARP SELL-OFF — IS A BOUNCE COMING?
ETH/USDT is trading around $2,075.63, down 2.17% over the last 24 hours. On the 15M chart, sellers have maintained control, pushing ETH down from the $2,132 area before a sharp drop toward $2,028.32.
I'm now watching the recovery closely. Buyers have stepped in after that deep wick, but I don't consider this a confirmed trend reversal yet.
Key Market Levels:
* Immediate Resistance: $2,091 – $2,100
* Major Resistance: $2,114 – $2,132
* Immediate Support: $2,068
* Strong Support: $2,046
* Critical Support: $2,028
Volume & Market Activity:
24H trading volume is approximately $516.56M USDT, with ETH down 2.17%. Trading activity is significant, but the screenshot doesn't provide a volume-change comparison. I want to see stronger buying participation before trusting this recovery.
My Trading Plan
I'm not interested in chasing the current bounce.
* Spot Entry: $2,046 – $2,068 if support holds.
* DCA Zone: Around $2,028 – $2,046 if buyers defend the recent low.
* Confirmation: A strong 15M reclaim above $2,091, followed by a move above $2,114.
* Invalidation: A decisive breakdown below $2,028.32.
My focus is simple: $ETH needs to reclaim resistance and build strength before I become more confident about the upside.
The next move around $2,091 could tell us whether this is the beginning of a recovery or just another temporary bounce.
ETH/USDT is trading around $2,075.63, down 2.17% over the last 24 hours. On the 15M chart, sellers have maintained control, pushing ETH down from the $2,132 area before a sharp drop toward $2,028.32.
I'm now watching the recovery closely. Buyers have stepped in after that deep wick, but I don't consider this a confirmed trend reversal yet.
Key Market Levels:
* Immediate Resistance: $2,091 – $2,100
* Major Resistance: $2,114 – $2,132
* Immediate Support: $2,068
* Strong Support: $2,046
* Critical Support: $2,028
Volume & Market Activity:
24H trading volume is approximately $516.56M USDT, with ETH down 2.17%. Trading activity is significant, but the screenshot doesn't provide a volume-change comparison. I want to see stronger buying participation before trusting this recovery.
My Trading Plan
I'm not interested in chasing the current bounce.
* Spot Entry: $2,046 – $2,068 if support holds.
* DCA Zone: Around $2,028 – $2,046 if buyers defend the recent low.
* Confirmation: A strong 15M reclaim above $2,091, followed by a move above $2,114.
* Invalidation: A decisive breakdown below $2,028.32.
My focus is simple: $ETH needs to reclaim resistance and build strength before I become more confident about the upside.
The next move around $2,091 could tell us whether this is the beginning of a recovery or just another temporary bounce.
