ETHEREUM $ETH REJECTING MOVING AVERAGE RESISTANCE ARE BEARS TARGETING $2,395.38 NEXT?
Pair: $ETH /USDT
Direction: SHORT
Entry Price: 2,487.73
Target Levels (Take Profit)
TP 1: 2,453.10 1.39%
TP 2:p 2,430.01 2.32%
TP 3: 2,395.38 3.71%
Stop Loss
🛑 SL: 2,533.90 (+1.86%)
Technical Breakdown
Price Action & Structure: ETH ($2,487.47) staged a gradual multi-candle relief rally following a sharp capitulation down to the $2,380 demand floor. The current red rejection candle printing around $2,490 confirms active overhead supply and upper-wick rejection, signaling that the relief pull-back has completed and paving the way for a breakdown retest toward TP 3.
Moving Averages & Confluence: Price action is struggling directly beneath short-term MA 7 (~2,495) and intermediate MA 25 (~2,505), while long-term baseline MA 99 (~2,600) sits well overhead. The rejection off the MA 7 / MA 25 cluster reinforces sell-side pressure and limits potential upside expansion.
RSI (14) peaked near 55.00–60.00 and has hooked back down toward neutral territory, indicating fading bullish drive and room for momentum to expand lower. The MACD histogram cyan bars are flattening above the zero line with signal lines losing upward slope, signaling momentum slowing down for buyers and preparing for a potential bearish crossover.
$ETH
Pair: $ETH /USDT
Direction: SHORT
Entry Price: 2,487.73
Target Levels (Take Profit)
TP 1: 2,453.10 1.39%
TP 2:p 2,430.01 2.32%
TP 3: 2,395.38 3.71%
Stop Loss
🛑 SL: 2,533.90 (+1.86%)
Technical Breakdown
Price Action & Structure: ETH ($2,487.47) staged a gradual multi-candle relief rally following a sharp capitulation down to the $2,380 demand floor. The current red rejection candle printing around $2,490 confirms active overhead supply and upper-wick rejection, signaling that the relief pull-back has completed and paving the way for a breakdown retest toward TP 3.
Moving Averages & Confluence: Price action is struggling directly beneath short-term MA 7 (~2,495) and intermediate MA 25 (~2,505), while long-term baseline MA 99 (~2,600) sits well overhead. The rejection off the MA 7 / MA 25 cluster reinforces sell-side pressure and limits potential upside expansion.
RSI (14) peaked near 55.00–60.00 and has hooked back down toward neutral territory, indicating fading bullish drive and room for momentum to expand lower. The MACD histogram cyan bars are flattening above the zero line with signal lines losing upward slope, signaling momentum slowing down for buyers and preparing for a potential bearish crossover.
$ETH