$ETH is staging a relief rally after a sharp sell-off, but it’s still trading below a major resistance zone.
* Resistance: $1,940–2,100 is the key supply area. Bulls need to reclaim this zone to confirm a trend reversal.
* Support: $1,800–1,820 is the first support. Losing it could expose $1,700, with $1,400 as the next major downside level.
* Outlook: The bounce looks constructive, but unless ETH closes above $1,940, this move is more likely a relief rally within a broader bearish structure.
Bias: Short-term bullish momentum, but the higher-timeframe trend remains bearish below $1,940–2,100.
* Resistance: $1,940–2,100 is the key supply area. Bulls need to reclaim this zone to confirm a trend reversal.
* Support: $1,800–1,820 is the first support. Losing it could expose $1,700, with $1,400 as the next major downside level.
* Outlook: The bounce looks constructive, but unless ETH closes above $1,940, this move is more likely a relief rally within a broader bearish structure.
Bias: Short-term bullish momentum, but the higher-timeframe trend remains bearish below $1,940–2,100.