This ETH hourly candle closed at $2695.18, breaking down through the prior two-hour low of $2700. Trading volume rose to 3.43 times that of the previous hour, and the short-term sell pressure has produced a more definite price result.

The Beijing time window from 20:00–21:00 on October 4 has closed: the low was $2694.81, and the close was near the low. A single hourly candle can show that the local structure has weakened, but confirmation of whether the trend will continue still depends on subsequent closes.

I will watch two outcomes: the next 1H candle continues to stay below 2694.81—breaking below will provide confirmation that the move is continuing; if it closes back above 2700, then this assessment of weakness is invalidated, and we’ll shift to watching the back-and-forth within the range.

My view is that before the 2700 is reclaimed, any rebound should be treated as suggested by the backtest. Do you think when the next candle reclaims 2700, it’s enough to classify this breakdown as a false breakout?

Source: Official spot ETH-USDT 1H candlestick chart, confirm=1, as of 2026-10-04 21:00 Beijing time; compare adjacent-hour trading volumes using the same methodology.

Crypto assets are high-risk; this article does not constitute investment advice.