$ETH just slipped back below a level it reclaimed in August.
4H structure:
• Range top: ~2,800 (rejected twice)
• Resistance: ~2,520 (latest rejection)
• Pivot: ~2,450 (May highs, now lost)
• Support: ~2,320 (recent low)
Bull case: price reclaims 2,450, then a 4H close above 2,520 opens a move back toward 2,800.
Bear case: a 4H close below 2,320 exposes the 1,900-2,000 base.
Invalidation of the bull case: below 2,320.
Levels are approximate, read from the Binance 4H chart on Oct 22. I'll update this post if either level breaks.
Which side do you think breaks first?
4H structure:
• Range top: ~2,800 (rejected twice)
• Resistance: ~2,520 (latest rejection)
• Pivot: ~2,450 (May highs, now lost)
• Support: ~2,320 (recent low)
Bull case: price reclaims 2,450, then a 4H close above 2,520 opens a move back toward 2,800.
Bear case: a 4H close below 2,320 exposes the 1,900-2,000 base.
Invalidation of the bull case: below 2,320.
Levels are approximate, read from the Binance 4H chart on Oct 22. I'll update this post if either level breaks.
Which side do you think breaks first?
