Quoting my update from yesterday on $ETH ($ETH USDT.P):
The relief bounce played out down to the dollar.
After tapping our $2,370 target zone (low printed $2,369), we refused to chase shorts at $2,416 and waited for price to rotate back up. Fast forward 23 hours, and $ETH has pushed straight into the $2,485–$2,510 supply block.
Now comes the real decision point.
My line in the sand hasn't moved: $2,530 is the hard invalidation.
If bears want to defend the macro downtrend, the rejection wicks need to show up right here between $2,500 and $2,520. If we see sustained absorption and a confirmed 1H close above $2,530, the short thesis is dead and I flip bias for higher.
Patience paid off on the pullback—now watching how price reacts to $2,530 before sizing in.
The relief bounce played out down to the dollar.
After tapping our $2,370 target zone (low printed $2,369), we refused to chase shorts at $2,416 and waited for price to rotate back up. Fast forward 23 hours, and $ETH has pushed straight into the $2,485–$2,510 supply block.
Now comes the real decision point.
My line in the sand hasn't moved: $2,530 is the hard invalidation.
If bears want to defend the macro downtrend, the rejection wicks need to show up right here between $2,500 and $2,520. If we see sustained absorption and a confirmed 1H close above $2,530, the short thesis is dead and I flip bias for higher.
Patience paid off on the pullback—now watching how price reacts to $2,530 before sizing in.
