This ETH bounce is all bark and no bite! $ETH 2700 can’t hold—short-term outlook remains bearish
Guys, ETH’s four-hour action is seriously uninspiring. It opened at 2714 and closed at 2702, down 0.44%. It briefly reached 2725 before giving way, then plunged to a low of 2702. This isn’t consolidation—it’s a steady bleed.
Now look at the 15-minute candles. Over the past hour, the highs of the four candles were 2725, 2724, 2720, and 2713—sliding lower the whole way. The lows were 2717, 2714, 2712, and 2701, probing deeper each time. The last candle closed right at 2702, without even a decent lower wick. Even more alarming is volume: it was 45% higher in the last two hours than in the two hours before that. A drop on rising volume—what does that tell you? Someone’s heading for the exits, and this isn’t just retail selling. It’s real selling pressure.
On the news front, the Glamsterdam upgrade has gone live on the Sepolia testnet. That sounds bullish, but the market couldn’t care less. News at the testnet stage has already been priced in, and mainnet activation is still a long way off. It won’t solve the problem at hand.
Raoul Pal also said that a pause in the AI stock rally could help attract capital to crypto, and that AI agents will drive ETH adoption. That makes sense in the long term, but what about the short term? If AI stocks really crash, risk assets will all suffer. Do you think crypto will be spared? Come on. This macro narrative can’t save ETH right now.
On the chart, 2715 has become key resistance. If the price can’t get above it, the market remains weak. 2730 is an even tougher ceiling. Until we break through it on strong volume, every bounce is an opportunity to go short. Below, 2700 is a psychological level. If it breaks, panic selling could send the price even lower.
My view is clear: the short-term outlook remains bearish, with 2700 as the first target. If that breaks, we’ll wait for the next move. If ETH reclaims and holds above 2730, I’ll admit I was wrong and withdraw my bearish call. Until then, don’t rush to buy the dip—the knife is still falling.
$ETH doesn’t mean I’m bearish on the long-term outlook, but with this short-term price action, anyone holding a long position is going to have a rough time.
Guys, ETH’s four-hour action is seriously uninspiring. It opened at 2714 and closed at 2702, down 0.44%. It briefly reached 2725 before giving way, then plunged to a low of 2702. This isn’t consolidation—it’s a steady bleed.
Now look at the 15-minute candles. Over the past hour, the highs of the four candles were 2725, 2724, 2720, and 2713—sliding lower the whole way. The lows were 2717, 2714, 2712, and 2701, probing deeper each time. The last candle closed right at 2702, without even a decent lower wick. Even more alarming is volume: it was 45% higher in the last two hours than in the two hours before that. A drop on rising volume—what does that tell you? Someone’s heading for the exits, and this isn’t just retail selling. It’s real selling pressure.
On the news front, the Glamsterdam upgrade has gone live on the Sepolia testnet. That sounds bullish, but the market couldn’t care less. News at the testnet stage has already been priced in, and mainnet activation is still a long way off. It won’t solve the problem at hand.
Raoul Pal also said that a pause in the AI stock rally could help attract capital to crypto, and that AI agents will drive ETH adoption. That makes sense in the long term, but what about the short term? If AI stocks really crash, risk assets will all suffer. Do you think crypto will be spared? Come on. This macro narrative can’t save ETH right now.
On the chart, 2715 has become key resistance. If the price can’t get above it, the market remains weak. 2730 is an even tougher ceiling. Until we break through it on strong volume, every bounce is an opportunity to go short. Below, 2700 is a psychological level. If it breaks, panic selling could send the price even lower.
My view is clear: the short-term outlook remains bearish, with 2700 as the first target. If that breaks, we’ll wait for the next move. If ETH reclaims and holds above 2730, I’ll admit I was wrong and withdraw my bearish call. Until then, don’t rush to buy the dip—the knife is still falling.
$ETH doesn’t mean I’m bearish on the long-term outlook, but with this short-term price action, anyone holding a long position is going to have a rough time.
