$ETH remains in a downtrend. The recent rise is merely a rebound (short covering) within a larger downtrend, and price is currently facing strong pressure from dynamic resistance at the 1-hour EMA9 (2445-2448) and EMA21 (2452-2455).
· Open interest (OI): Notably, the recent modest rebound has also coincided with a decline in OI, suggesting short covering rather than new long positions entering the market. There is currently no strong evidence of a trend reversal.
$ETH Short Strategy (Sell the Rally)
· Short entry: 2470 - 2490
Wait for price to retest the resistance zone and show a clear rejection (pullback) signal.
· Stop-loss: Above 2540
· TP1: 2410 (recent 1-hour support)
· TP2: 2320 (major 4-hour swing low)
🔥 Or aggressive short entry: 2450 - 2465 (retest of the 1-hour EMA cluster)
· Stop-loss: Above 2485
Support me here if you like this trade👇#eth
· Open interest (OI): Notably, the recent modest rebound has also coincided with a decline in OI, suggesting short covering rather than new long positions entering the market. There is currently no strong evidence of a trend reversal.
$ETH Short Strategy (Sell the Rally)
· Short entry: 2470 - 2490
Wait for price to retest the resistance zone and show a clear rejection (pullback) signal.
· Stop-loss: Above 2540
· TP1: 2410 (recent 1-hour support)
· TP2: 2320 (major 4-hour swing low)
🔥 Or aggressive short entry: 2450 - 2465 (retest of the 1-hour EMA cluster)
· Stop-loss: Above 2485
Support me here if you like this trade👇#eth