$ETH
While breakout skeptics chase late shorts into macro support, this 1-day chart on $ETH is testing a crucial structural demand zone following a sharp multi-week pullback.
After failing to sustain upside momentum near the $2,753.63 resistance, price retraced through intermediate levels, currently trading around $2,420.58 right on the support shelf. The price action is stabilizing near the $2,317.39 baseline demand block, attempting to build a structural base for a relief bounce toward immediate resistance at $2,654.48 .
Holding above the $2,317.39 support level keeps the bullish macro structure intact, targeting an initial recovery move toward $2,654.48 and $2,753.63 . A decisive daily close below $2,317.39 invalidates the support thesis and exposes deeper downside liquidity toward the $2,111.42 level.
Don't short into macro support floors—wait for structural volume confirmation before positioning for the next impulsive leg.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis #Trading
While breakout skeptics chase late shorts into macro support, this 1-day chart on $ETH is testing a crucial structural demand zone following a sharp multi-week pullback.
After failing to sustain upside momentum near the $2,753.63 resistance, price retraced through intermediate levels, currently trading around $2,420.58 right on the support shelf. The price action is stabilizing near the $2,317.39 baseline demand block, attempting to build a structural base for a relief bounce toward immediate resistance at $2,654.48 .
Holding above the $2,317.39 support level keeps the bullish macro structure intact, targeting an initial recovery move toward $2,654.48 and $2,753.63 . A decisive daily close below $2,317.39 invalidates the support thesis and exposes deeper downside liquidity toward the $2,111.42 level.
Don't short into macro support floors—wait for structural volume confirmation before positioning for the next impulsive leg.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis #Trading