After ETH reclaimed 2443 and pulled back on shrinking volume, those who clung to the old shorts are starting to pay the price.
As of 08:00, the latest ETH 4H close has fallen from 2481.84 to 2467.65. The low was 2462, yet it has managed to keep the body closing above 2443 for the third consecutive time; the prior two closes were 2467.68 and 2481.84 respectively. The daily candle also moved from 2416.89 to close at 2467.65, completing the reclaim of 2443. The post-08:00 fluctuations belong to the new 4H and do not count toward a directional reversal.
Capital hasn’t exited aggressively during the pullback: the latest 4H spot trading volume is 19,848 ETH, which is 59.6% lower than the average of the previous five candles, and 54.4% lower than the previous twenty. Aggressive buy orders account for 46.3%. With price retracing while volume quickly contracts, it looks more like selling pressure is fading rather than something heavier.
Over the past three 4H candles, ETH/BTC has risen from 0.03124 to 0.03140. During the same period, the latest BTC close is 78,581, and it still hasn’t escaped consolidation below 79,172. Trapped traders are the ones who keep treating 2443 as resistance and chasing shorts during low-volume pullbacks.
The only relevant catalyst is the U.S. spot ETF preliminary figure on Aug 31: ETH recorded a net inflow of about $18.4 million so far, while BTC recorded about $17.3 million. Several funds haven’t reported yet; this set of numbers supports relative strength, but it cannot replace confirmation from the candlestick chart.
Before publishing at 08:05: BTC spot around $78,686.01, ETH around $2,469.01. I’m clearly biased bullish on ETH: first target 2489.95, second target 2503.83. For a pullback above 2443, handle it as a support test. This is market commentary only and does not constitute investment advice.#ETH #4H structure
In the comments, pick one side only: will 2489.95 be taken first, or will 2443 be tested first?
Only invalidation condition: $ETH closes a 4H candle with the body below 2443.
As of 08:00, the latest ETH 4H close has fallen from 2481.84 to 2467.65. The low was 2462, yet it has managed to keep the body closing above 2443 for the third consecutive time; the prior two closes were 2467.68 and 2481.84 respectively. The daily candle also moved from 2416.89 to close at 2467.65, completing the reclaim of 2443. The post-08:00 fluctuations belong to the new 4H and do not count toward a directional reversal.
Capital hasn’t exited aggressively during the pullback: the latest 4H spot trading volume is 19,848 ETH, which is 59.6% lower than the average of the previous five candles, and 54.4% lower than the previous twenty. Aggressive buy orders account for 46.3%. With price retracing while volume quickly contracts, it looks more like selling pressure is fading rather than something heavier.
Over the past three 4H candles, ETH/BTC has risen from 0.03124 to 0.03140. During the same period, the latest BTC close is 78,581, and it still hasn’t escaped consolidation below 79,172. Trapped traders are the ones who keep treating 2443 as resistance and chasing shorts during low-volume pullbacks.
The only relevant catalyst is the U.S. spot ETF preliminary figure on Aug 31: ETH recorded a net inflow of about $18.4 million so far, while BTC recorded about $17.3 million. Several funds haven’t reported yet; this set of numbers supports relative strength, but it cannot replace confirmation from the candlestick chart.
Before publishing at 08:05: BTC spot around $78,686.01, ETH around $2,469.01. I’m clearly biased bullish on ETH: first target 2489.95, second target 2503.83. For a pullback above 2443, handle it as a support test. This is market commentary only and does not constitute investment advice.#ETH #4H structure
In the comments, pick one side only: will 2489.95 be taken first, or will 2443 be tested first?
Only invalidation condition: $ETH closes a 4H candle with the body below 2443.