🚀 $ETH LONG: Is Ethereum Preparing for a Relief Bounce After the Sell-Off?
Ethereum is trading near $1,905, after falling sharply from the $2,449 region. The 4H chart still shows a clear bearish structure, but ETH has bounced slightly from the recent low of $1,875.
I'm watching for a potential LONG recovery, not calling a confirmed trend reversal yet.
📊 Key Chart Levels
Immediate support: $1,875
Next support: $1,846
First resistance: $1,972
Major recovery zone: $2,099
Higher resistance: $2,225
A sustained hold above $1,875 followed by a reclaim of $1,972 could strengthen the recovery idea. If ETH loses $1,875, the long thesis weakens and $1,846 becomes important.
📰 What's happening in the market?
Ethereum is facing broader crypto-market pressure:
Bitcoin's decline is also weighing on ETH.
Recent US spot ETH ETF outflows and leveraged long liquidations have added selling pressure.
One large wallet reportedly bought 10,380 ETH on November 13, despite already having substantial unrealized losses. That's an interesting accumulation signal, but one wallet does not confirm a market bottom.
On the development side, the Lighthouse team submitted a fix for a vulnerability ahead of Ethereum's planned Glamsterdam upgrade.
My view: The LONG idea comes from the possibility of a technical relief bounce near support. The news is mixed, and the broader trend remains bearish until ETH reclaims important resistance.
Can $ETH recover above $1,972, or will sellers push it below $1,875?
#ETH #Ethereum #CryptoMarket
Ethereum is trading near $1,905, after falling sharply from the $2,449 region. The 4H chart still shows a clear bearish structure, but ETH has bounced slightly from the recent low of $1,875.
I'm watching for a potential LONG recovery, not calling a confirmed trend reversal yet.
📊 Key Chart Levels
Immediate support: $1,875
Next support: $1,846
First resistance: $1,972
Major recovery zone: $2,099
Higher resistance: $2,225
A sustained hold above $1,875 followed by a reclaim of $1,972 could strengthen the recovery idea. If ETH loses $1,875, the long thesis weakens and $1,846 becomes important.
📰 What's happening in the market?
Ethereum is facing broader crypto-market pressure:
Bitcoin's decline is also weighing on ETH.
Recent US spot ETH ETF outflows and leveraged long liquidations have added selling pressure.
One large wallet reportedly bought 10,380 ETH on November 13, despite already having substantial unrealized losses. That's an interesting accumulation signal, but one wallet does not confirm a market bottom.
On the development side, the Lighthouse team submitted a fix for a vulnerability ahead of Ethereum's planned Glamsterdam upgrade.
My view: The LONG idea comes from the possibility of a technical relief bounce near support. The news is mixed, and the broader trend remains bearish until ETH reclaims important resistance.
Can $ETH recover above $1,972, or will sellers push it below $1,875?
#ETH #Ethereum #CryptoMarket
