My view: The trend is still constructive above $65.5K, but I won't chase price into resistance. I'd rather wait for confirmation than gamble on a breakout.
Sometimes the best position is no position.
What are you expecting next - breakout or rejection? 👇
$ETH has rallied into the $1.77K-$1.80K resistance zone.
The recovery has been strong.
Now buyers face their first real test.
Momentum is starting to slow.
Until this resistance is reclaimed with conviction, I remain cautiously bearish.
Here's what I'm watching:
• Resistance holding around $1.77K-$1.80K • Momentum continuing to fade • Sellers stepping back into the market • A confirmed close above $1.80K invalidating my bearish bias
💡 Key Takeaway
Strong rallies often slow down at major resistance.
The reaction that follows tells us far more than the rally itself.
💬 Would you short this resistance, or wait for a confirmed breakout?