$ETH: Fakeout Confirmed: Bulls Trapped at Local Highs
SHORT SETUP ETH
Entry: $2385.00 - $2388.00
Stop Loss: $2481.96
Take Profit: $2195.58 (2R)
Key Levels: Support $2318.00 | Resistance $2429.41
Technical Analysis for $ETH: RSI at 30.6 points to oversold conditions, but MACD remains negative with a widening histogram, and price sits below EMA9, EMA21, EMA50 and EMA200, confirming bearish momentum. ADX at 42 indicates a strong trend. Together, these indicators favor SHORT continuation toward support. Negative momentum and trend readings give this setup a clear bearish structure.
Market Context: BTC is in a bearish 4hour trend, down 3.2% on the day, and the broader market shows 93% red assets, reinforcing ETHs
SHORT $ETH
SHORT SETUP ETH
Entry: $2385.00 - $2388.00
Stop Loss: $2481.96
Take Profit: $2195.58 (2R)
Key Levels: Support $2318.00 | Resistance $2429.41
Technical Analysis for $ETH: RSI at 30.6 points to oversold conditions, but MACD remains negative with a widening histogram, and price sits below EMA9, EMA21, EMA50 and EMA200, confirming bearish momentum. ADX at 42 indicates a strong trend. Together, these indicators favor SHORT continuation toward support. Negative momentum and trend readings give this setup a clear bearish structure.
Market Context: BTC is in a bearish 4hour trend, down 3.2% on the day, and the broader market shows 93% red assets, reinforcing ETHs
SHORT $ETH