$ETH remains in a bearish trend on the 4-hour and 1-hour timeframes
Although the 1-hour chart shows a short-term corrective rebound from the 2318 low to 2428, this upward momentum has stalled near the 1-hour EMA21 (around 2435–2440). This is merely a relief rally within the broader downtrend, making the current resistance zone an excellent opportunity to enter a short position.
• The 4-hour chart confirms the broader downtrend, with price trading firmly below the EMA9 and EMA21.
$ETH Short Setup (Preferred)
· Short entry: 2440–2470 (look to short a rebound at the 1-hour EMA21 and psychological resistance)
· Stop-loss: Above 2530
· Take profit:
· TP1: 2350
· TP2: 2320
· TP3: 2250
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Although the 1-hour chart shows a short-term corrective rebound from the 2318 low to 2428, this upward momentum has stalled near the 1-hour EMA21 (around 2435–2440). This is merely a relief rally within the broader downtrend, making the current resistance zone an excellent opportunity to enter a short position.
• The 4-hour chart confirms the broader downtrend, with price trading firmly below the EMA9 and EMA21.
$ETH Short Setup (Preferred)
· Short entry: 2440–2470 (look to short a rebound at the 1-hour EMA21 and psychological resistance)
· Stop-loss: Above 2530
· Take profit:
· TP1: 2350
· TP2: 2320
· TP3: 2250
Support me by trading right here 👇