Honestly, this isn’t a disagreement—it's the trigger talking. $ETH After touching the upper layer of pressure, it failed to hold steady, and the price moved downward along the resistance. Right now, I’m more inclined to view this as the end of the rebound and a continued rhythm of pullback. First, look at the structure.
That prior rebound pulled up from the lows looked smooth, but the higher it went, the more the volume couldn’t keep up. The price made a local high, yet the trading volume didn’t expand in sync. This kind of divergence is extremely common at the end of a rebound. The spike up looks more like it drew in the last batch of chase-buyers, and then the follow-through clearly thinned. The pullback was faster than the upswing, which shows that real sell pressure is indeed present—not just a fakeout. Next, look at the key levels.
That upper zone has been tested repeatedly—every time price comes near, it gets pushed back, forming a fairly clear supply area. Price has now fallen back into the range. The earlier breakout gains have basically been given back; the bulls couldn’t hold the position. Looking down, the prior low area is the first support that needs watching. If that level can’t hold, there will be further room lower, and the depth of the pullback may exceed many people’s expectations.
Someone might ask: after dropping this much, can we still be bearish? My take is that the rebound getting pushed back by resistance by itself shows the bulls lack strength. Until the trend turns, it’s higher-probability to think along the direction of resistance. What’s missing now is the signal of a breakout with volume. As long as that upper hurdle can’t be cleared, the rebound can only be treated as a repair, not a reversal.
On the risk-reward ratio, chasing longs here isn’t very cost-effective. Upside is being capped, but there’s still room for a deeper pullback downward. I’d rather wait to see how price reacts to the key support—whether it stops falling on shrinking volume or breaks down directly—then decide how to look at the next move.
At this stage, keeping a mildly bearish mindset and focusing on changes in volume is more prudent than rushing to bottom-fish. This rebound for $ETH has probably not reached the point where a genuine trend reversal is underway yet. $ETH
Gaze at the vastness of the mountains and seas; observe the subtle movements of the market.
Walking with Uncle Xiong, we’ll see the gains and losses across the sky and earth.
#ETH
Click below to trade 👇
That prior rebound pulled up from the lows looked smooth, but the higher it went, the more the volume couldn’t keep up. The price made a local high, yet the trading volume didn’t expand in sync. This kind of divergence is extremely common at the end of a rebound. The spike up looks more like it drew in the last batch of chase-buyers, and then the follow-through clearly thinned. The pullback was faster than the upswing, which shows that real sell pressure is indeed present—not just a fakeout. Next, look at the key levels.
That upper zone has been tested repeatedly—every time price comes near, it gets pushed back, forming a fairly clear supply area. Price has now fallen back into the range. The earlier breakout gains have basically been given back; the bulls couldn’t hold the position. Looking down, the prior low area is the first support that needs watching. If that level can’t hold, there will be further room lower, and the depth of the pullback may exceed many people’s expectations.
Someone might ask: after dropping this much, can we still be bearish? My take is that the rebound getting pushed back by resistance by itself shows the bulls lack strength. Until the trend turns, it’s higher-probability to think along the direction of resistance. What’s missing now is the signal of a breakout with volume. As long as that upper hurdle can’t be cleared, the rebound can only be treated as a repair, not a reversal.
On the risk-reward ratio, chasing longs here isn’t very cost-effective. Upside is being capped, but there’s still room for a deeper pullback downward. I’d rather wait to see how price reacts to the key support—whether it stops falling on shrinking volume or breaks down directly—then decide how to look at the next move.
At this stage, keeping a mildly bearish mindset and focusing on changes in volume is more prudent than rushing to bottom-fish. This rebound for $ETH has probably not reached the point where a genuine trend reversal is underway yet. $ETH
Gaze at the vastness of the mountains and seas; observe the subtle movements of the market.
Walking with Uncle Xiong, we’ll see the gains and losses across the sky and earth.
#ETH
Click below to trade 👇