ETH REJECTED AT 2,527, PRICE NEAR THE 2,375–2,410 DEMAND ZONE
The rebound on 21/10 reached 2,527, just below the EMA200 cluster and the supply zone above, before being pushed straight back down. Anyone who chased the price there is now trapped. ETH is now at 2,411, down about 3% over 24 hours. This is a lower high than the 2,580 peak on 12/10, so the sequence of lower highs remains intact.
All three H4 EMAs are above the price: EMA50 at 2,446, EMA100 at 2,484, and EMA200 at 2,509. Until the rebound can close above the EMA200, I still see it as a bounce within a downtrend, with sellers in control.
Price is hovering near the upper edge of the 2,375–2,410 demand zone. An H4 close below 2,370 would invalidate the hold scenario. At that point, the lows of 2,318 on 15/10 and 2,329 on 18/10 would be tested again. If this zone holds and H4 closes above the EMA50, then we can start looking at a move back toward 2,484–2,509.
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#Ethereum #ETH $ETH
The rebound on 21/10 reached 2,527, just below the EMA200 cluster and the supply zone above, before being pushed straight back down. Anyone who chased the price there is now trapped. ETH is now at 2,411, down about 3% over 24 hours. This is a lower high than the 2,580 peak on 12/10, so the sequence of lower highs remains intact.
All three H4 EMAs are above the price: EMA50 at 2,446, EMA100 at 2,484, and EMA200 at 2,509. Until the rebound can close above the EMA200, I still see it as a bounce within a downtrend, with sellers in control.
Price is hovering near the upper edge of the 2,375–2,410 demand zone. An H4 close below 2,370 would invalidate the hold scenario. At that point, the lows of 2,318 on 15/10 and 2,329 on 18/10 would be tested again. If this zone holds and H4 closes above the EMA50, then we can start looking at a move back toward 2,484–2,509.
If you found this useful, please show your support with a heart.
#Ethereum #ETH $ETH