$ETH — 1H Chart Read 📊
ETH is showing a clear short-term bearish structure here. The rejection from $2,615 turned into lower highs and lower lows, and the price is still trading below the 1H Supertrend at $2,491.97.
The bounce from $2,389.72 is worth watching, but so far it looks like a reaction from support rather than a confirmed reversal. Current market analysis is also highlighting $2,450 as an important support area, with $2,550 still acting as a major resistance zone.
Key levels
Resistance: $2,477 → $2,492
Major resistance: $2,550
Support: $2,410
Major support: $2,389
Next downside: $2,350
Short setup
Entry: $2,465–$2,490 on rejection
SL: $2,525
TP1: $2,410
TP2: $2,390
TP3: $2,350
I’d rather wait for ETH to retest $2,465–$2,490 and show rejection than short directly at $2,434 after the bounce.
The order book is currently slightly buyer-heavy at 56.74% bids vs 43.26% asks, so I wouldn’t ignore the possibility of another bounce. But technically, buyers still have a lot to prove.
Bullish flip
The setup changes if ETH can reclaim $2,492 with a solid 1H close and hold it on retest.
Above that, $2,550 becomes the next serious test. A clean reclaim there would make the structure much healthier.
Bias: Bearish below $2,492.
Best short: retest + rejection, with $2,390 as the key downside level.
One level I’d watch especially closely: $2,389.72. Lose that cleanly and the current relief bounce loses a lot of its strength.
#ETH
ETH is showing a clear short-term bearish structure here. The rejection from $2,615 turned into lower highs and lower lows, and the price is still trading below the 1H Supertrend at $2,491.97.
The bounce from $2,389.72 is worth watching, but so far it looks like a reaction from support rather than a confirmed reversal. Current market analysis is also highlighting $2,450 as an important support area, with $2,550 still acting as a major resistance zone.
Key levels
Resistance: $2,477 → $2,492
Major resistance: $2,550
Support: $2,410
Major support: $2,389
Next downside: $2,350
Short setup
Entry: $2,465–$2,490 on rejection
SL: $2,525
TP1: $2,410
TP2: $2,390
TP3: $2,350
I’d rather wait for ETH to retest $2,465–$2,490 and show rejection than short directly at $2,434 after the bounce.
The order book is currently slightly buyer-heavy at 56.74% bids vs 43.26% asks, so I wouldn’t ignore the possibility of another bounce. But technically, buyers still have a lot to prove.
Bullish flip
The setup changes if ETH can reclaim $2,492 with a solid 1H close and hold it on retest.
Above that, $2,550 becomes the next serious test. A clean reclaim there would make the structure much healthier.
Bias: Bearish below $2,492.
Best short: retest + rejection, with $2,390 as the key downside level.
One level I’d watch especially closely: $2,389.72. Lose that cleanly and the current relief bounce loses a lot of its strength.
#ETH
