On Ethereum’s one-hour chart, the price surged rapidly to a resistance zone and then pulled back. In terms of indicators, KDJ has turned downward after flattening at high levels, and bullish momentum is starting to fade. The MACD red bars have contracted slightly, showing that upward momentum is weaker than during the rally. A corrective pullback could occur at any time. Structurally, 2472–2493 is a double resistance zone, with resistance concentrated around the previous high. As the price rebounds into this key resistance zone, profit-taking by bulls could create selling pressure.
Reference: Short at 2463, target 2423, stop-loss 30 points
$ETH