$ETH $ETH The worst feeling tonight is getting dumped on after chasing a rally, then seeing a rebound after chasing shorts.
Ethereum recovered after swinging sharply around $2,480–$2,490, but my read is that the short-term move is still a recovery; a reversal has yet to be confirmed.
There are two key levels to watch:
① Above: $2,500–$2,515. This range combines the round-number level with the area of the 24-hour high. The rebound has a better chance of continuing only if the 1-hour candle closes above it and price then retests and holds the level. If price pushes above and then falls back, I’d still treat this as a range-bound market.
② Below: $2,400–$2,410. This is close to the 24-hour low and is an important area to watch. If price pulls back again, whether it can hold matters more than a single sharp rally. A decisive break below would mean this recovery has failed.
My stance: Until price establishes itself above $2,515, I’m cautious about the upside. And if it holds around $2,400, I wouldn’t rush to assume it’s going to keep falling.
The middle of the range is where you’re most likely to get hit from both sides. Tonight, make fewer guesses about the next wick and wait for one more candle close to confirm.
Market conditions change, so your read should adjust with the key levels.
Ethereum recovered after swinging sharply around $2,480–$2,490, but my read is that the short-term move is still a recovery; a reversal has yet to be confirmed.
There are two key levels to watch:
① Above: $2,500–$2,515. This range combines the round-number level with the area of the 24-hour high. The rebound has a better chance of continuing only if the 1-hour candle closes above it and price then retests and holds the level. If price pushes above and then falls back, I’d still treat this as a range-bound market.
② Below: $2,400–$2,410. This is close to the 24-hour low and is an important area to watch. If price pulls back again, whether it can hold matters more than a single sharp rally. A decisive break below would mean this recovery has failed.
My stance: Until price establishes itself above $2,515, I’m cautious about the upside. And if it holds around $2,400, I wouldn’t rush to assume it’s going to keep falling.
The middle of the range is where you’re most likely to get hit from both sides. Tonight, make fewer guesses about the next wick and wait for one more candle close to confirm.
Market conditions change, so your read should adjust with the key levels.