๐ Price Action Update: $ETH
Ethereum ($ETH) faced a sharp rejection from the key resistance band at $4700โ$4800 after an extended bullish run. This region has consistently acted as a major supply zone, and the latest reaction signals that sellers are starting to regain control.
๐ Market Outlook:
Momentum is showing fatigue, with structural shifts pointing to growing selling pressure. A potential lower-high pattern is emerging, raising the possibility of a trend reversal or a deeper correction.
๐ Short Setup Idea:
Entry Zone: $4200โ$4350
Stop-Loss: Above $4765
Target 1: $3800
Target 2 (Extended): $3400โ$3325 (key support)
๐ Summary:
Ethereum is struggling below the $4700 resistance, keeping the short bias in play. A confirmed breakdown under $4300 could trigger stronger bearish momentum toward $3800, with extended downside risk into the $3400โ$3325 support zone.
