$ETH is showing renewed selling pressure on the 4H chart after getting rejected near $2,730. Price has slipped back toward $2,660, and the recent rejection suggests sellers are still defending the upper end of this consolidation range.
The key level to watch is $2,650. A decisive breakdown followed by a failed retest could open the way toward the $2,500 area and the major support near $2,370. If ETH reclaims $2,730 and holds above it, the bearish setup weakens.
I’m watching for a relief bounce into resistance before considering a short rather than chasing the move at current levels. Confirmation is important, especially with price already near short-term support.
The key level to watch is $2,650. A decisive breakdown followed by a failed retest could open the way toward the $2,500 area and the major support near $2,370. If ETH reclaims $2,730 and holds above it, the bearish setup weakens.
I’m watching for a relief bounce into resistance before considering a short rather than chasing the move at current levels. Confirmation is important, especially with price already near short-term support.
