To be honest, don’t let traps throw you off—the accumulation is the main line. This wave slid down from above 2700 ($ETH ). It looks like it might stabilize, but the overhead pressure hasn’t truly been absorbed. The rebound strength is getting weaker, time after time. The bigger trend remains bearish; the short-term back-and-forth is only leaving room for selling on rallies, not a signal of a trend reversal.
From the chart, 2700 is the most direct resistance area in the short term. Each time price has tried to push up there, it gets pushed back down, and the volume hasn’t picked up either—showing that supply and overhead selling pressure are still present. Higher up, around 84500, there’s heavier structural resistance. Unless that level holds, the overall rhythm is still bearish.
Consider support levels separately: 82500 and 82800 are the first layers of cushioning. Below that, 82000 is the key line of defense, and 2600 is the lower bound of this wide-range consolidation. As long as these levels haven’t been broken, the market is likely to keep churning sideways. But once 82000 and 2600 are effectively broken, the room for downside will open up.
So the idea is clear: a rebound back to around 2700 is a bearish zone. If price can’t move up further, then look for a pullback. The first target is around 2630. If the market first reaches 82500, 82800, or even around 2630, then there may be a short-term rebound opportunity—those can be treated as mildly bullish. But that’s only high-selling/low-buying within a range, not a trend reversal. The overall rhythm: sell rallies below resistance; go long near support. Don’t treat a consolidation as one-way.
For the evening into early morning, focus on whether there’s still a chance for a rebound. If it can push above 2700 again, that’s the window to continue building short positions. Don’t rush to chase until 82000 and 2600 are broken; if they break, then follow the move. Manage risk yourself—price action changes fast, so rely on real-time developments.
🔴 Trading Direction: Short
📍 Entry Range: 2691 – 2711
🎯 Take Profit 1: 2631
Behold the vastness of the mountains; observe the subtle movements of the market.
Walk with Uncle Xiong, and witness gains and losses in the sky and the day.
#ETH
Click below to trade 👇
From the chart, 2700 is the most direct resistance area in the short term. Each time price has tried to push up there, it gets pushed back down, and the volume hasn’t picked up either—showing that supply and overhead selling pressure are still present. Higher up, around 84500, there’s heavier structural resistance. Unless that level holds, the overall rhythm is still bearish.
Consider support levels separately: 82500 and 82800 are the first layers of cushioning. Below that, 82000 is the key line of defense, and 2600 is the lower bound of this wide-range consolidation. As long as these levels haven’t been broken, the market is likely to keep churning sideways. But once 82000 and 2600 are effectively broken, the room for downside will open up.
So the idea is clear: a rebound back to around 2700 is a bearish zone. If price can’t move up further, then look for a pullback. The first target is around 2630. If the market first reaches 82500, 82800, or even around 2630, then there may be a short-term rebound opportunity—those can be treated as mildly bullish. But that’s only high-selling/low-buying within a range, not a trend reversal. The overall rhythm: sell rallies below resistance; go long near support. Don’t treat a consolidation as one-way.
For the evening into early morning, focus on whether there’s still a chance for a rebound. If it can push above 2700 again, that’s the window to continue building short positions. Don’t rush to chase until 82000 and 2600 are broken; if they break, then follow the move. Manage risk yourself—price action changes fast, so rely on real-time developments.
🔴 Trading Direction: Short
📍 Entry Range: 2691 – 2711
🎯 Take Profit 1: 2631
Behold the vastness of the mountains; observe the subtle movements of the market.
Walk with Uncle Xiong, and witness gains and losses in the sky and the day.
#ETH
Click below to trade 👇