$ETH
While aggressive buyers get trapped by a fake bullish RSI divergence, this 4-hour chart on $ETH is rejecting moving average supply for a short continuation move into lower demand.
After failing to sustain the bounce above the SMA(100) and forming a fake RSI divergence, price faced immediate rejection near $2,492.02 . The projected path indicates a breakdown through the broken support level around $2,350.00 , driving downward toward the primary Supply & Demand (S&D) zone near $2,269.79 .
Holding below the invalidation level at $2,591.65 keeps the bearish breakdown setup active, targeting $2,269.79 in the demand zone. A close back above $2,591.65 invalidates the short bias and shifts market structure back into range consolidation.
Don't buy fake bullish divergence signals—wait for structural support reclaims before opening long positions.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis #Trading
While aggressive buyers get trapped by a fake bullish RSI divergence, this 4-hour chart on $ETH is rejecting moving average supply for a short continuation move into lower demand.
After failing to sustain the bounce above the SMA(100) and forming a fake RSI divergence, price faced immediate rejection near $2,492.02 . The projected path indicates a breakdown through the broken support level around $2,350.00 , driving downward toward the primary Supply & Demand (S&D) zone near $2,269.79 .
Holding below the invalidation level at $2,591.65 keeps the bearish breakdown setup active, targeting $2,269.79 in the demand zone. A close back above $2,591.65 invalidates the short bias and shifts market structure back into range consolidation.
Don't buy fake bullish divergence signals—wait for structural support reclaims before opening long positions.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis #Trading