ETHEREUM BEARS TAKE CONTROL: $ETH FACES A POTENTIAL DROP TOWARD $2,296
Ethereum is down 2.1%, and the 1H chart continues to print lower highs and lower lows. The bearish structure remains intact, with daily price action and BTC supporting the downside bias. However, the weekly backdrop is still bullish, making this a counter-trend setup that requires careful confirmation.
Key Levels to Watch
- Demand Zone: $2,321–$2,296
- Next Downside Target: $2,292.20 if demand breaks decisively
- Short Entry Zone: $2,338–$2,365
- Bearish Invalidation: 1H candle close above $2,391.49
Trading Strategy
I am watching for a liquidity sweep above a local high, followed by rejection from the $2,338–$2,365 supply and FVG zone. A 1H bearish engulfing candle or a lower-timeframe market-structure shift would provide stronger confirmation before considering a short position.
The first take-profit levels are $2,321 and $2,296. If sellers break the demand zone with conviction, $2,292.20 becomes the next level to monitor.
Market Flow Snapshot
- Open Interest: $5.57B, down 1.1% over 24 hours
- Funding Rate: +0.0038%
- Taker Ratio: 0.93x, indicating relatively stronger taker selling
- Large Trade Flow: Approximately $513K in selling activity over the reported interval
My View: Bearish momentum is building, but confirmation matters more than prediction. No chasing, no blind entries, and no ignoring invalidation. If ETH closes above $2,391.49 on the 1H timeframe, the bearish thesis is invalidated.
Not financial advice. Educational market analysis only.
#Ethereum #ETH #CryptoTrading #TechnicalAnalysis #Bitcoin $ETH
Ethereum is down 2.1%, and the 1H chart continues to print lower highs and lower lows. The bearish structure remains intact, with daily price action and BTC supporting the downside bias. However, the weekly backdrop is still bullish, making this a counter-trend setup that requires careful confirmation.
Key Levels to Watch
- Demand Zone: $2,321–$2,296
- Next Downside Target: $2,292.20 if demand breaks decisively
- Short Entry Zone: $2,338–$2,365
- Bearish Invalidation: 1H candle close above $2,391.49
Trading Strategy
I am watching for a liquidity sweep above a local high, followed by rejection from the $2,338–$2,365 supply and FVG zone. A 1H bearish engulfing candle or a lower-timeframe market-structure shift would provide stronger confirmation before considering a short position.
The first take-profit levels are $2,321 and $2,296. If sellers break the demand zone with conviction, $2,292.20 becomes the next level to monitor.
Market Flow Snapshot
- Open Interest: $5.57B, down 1.1% over 24 hours
- Funding Rate: +0.0038%
- Taker Ratio: 0.93x, indicating relatively stronger taker selling
- Large Trade Flow: Approximately $513K in selling activity over the reported interval
My View: Bearish momentum is building, but confirmation matters more than prediction. No chasing, no blind entries, and no ignoring invalidation. If ETH closes above $2,391.49 on the 1H timeframe, the bearish thesis is invalidated.
Not financial advice. Educational market analysis only.
#Ethereum #ETH #CryptoTrading #TechnicalAnalysis #Bitcoin $ETH