On the one-hour chart, Ethereum came under pressure and pulled back after climbing steadily in the early hours. This rebound began at the low of 2313, but funds continued to flow out throughout, with no fresh capital entering. Essentially, this is a recovery rally following a sharp drop, not a trend reversal.
In terms of indicators, KDJ has turned down from elevated levels, easing the earlier overbought conditions. TD has started a downside count, suggesting the rebound is likely nearing its end. Although MACD remains in a golden cross, bullish momentum has clearly weakened. Price has met resistance and stalled above 2460, so the intraday bias remains primarily bearish.
Reference: Short at 2443, target 2393, with a 40-point stop. $ETH
In terms of indicators, KDJ has turned down from elevated levels, easing the earlier overbought conditions. TD has started a downside count, suggesting the rebound is likely nearing its end. Although MACD remains in a golden cross, bullish momentum has clearly weakened. Price has met resistance and stalled above 2460, so the intraday bias remains primarily bearish.
Reference: Short at 2443, target 2393, with a 40-point stop. $ETH