Main trend remains bearish as long as price trades below 2391 (confirming lower highs from 2579 peak)
Recent price action shows a clear rejection from 2391 resistance, leading to a sharp decline
2280-2290 zone has proven to be a strong demand area. Open Interest is slightly rising, indicating fresh positions are being added in this consolidation range.
$ETH SHORT SETUP
· Entry Short: 2360 - 2390 (Wait for pullback into resistance block) · Stop Loss: above 2420 · Take Profit 1: 2310 · Take Profit 2: 2295 (Recent swing low)
Overall trend remains bearish as long as the price stays below 81200 - 81800 resistance wall
On 4H timeframe, recent rally peaked at 81823, forming a clear lower high. On 1H and 15m charts, we see a sharp rejection and a breakdown of local structure