$ETH short-term bears dominate! $1580 area is key resistance 📉
On the ETH 1-hour chart, the rebound peaked around $1610 and has since dropped with consecutive red candles, pulling back to $1574.
The 1-hour moving averages have formed a death cross, and the candles are under pressure—overall the short-term market bias is bearish.
Today’s trading plan:
Sell short on rallies: Watch for rejection signals as price rebounds into the $1580–$1590 area, and place your defense stop above the $1610 resistance level.
Go long on the right side: Chasing bottoms is risky. Bulls should wait for a retest of the support around $1512, or wait until price holds above $1610 before considering longs.
In the near term, bullish momentum seems to be weakening—manage your position size carefully and set a strict stop-loss!
Do you think the $1512 bottom can hold up? Discuss in the comments! #eth
On the ETH 1-hour chart, the rebound peaked around $1610 and has since dropped with consecutive red candles, pulling back to $1574.
The 1-hour moving averages have formed a death cross, and the candles are under pressure—overall the short-term market bias is bearish.
Today’s trading plan:
Sell short on rallies: Watch for rejection signals as price rebounds into the $1580–$1590 area, and place your defense stop above the $1610 resistance level.
Go long on the right side: Chasing bottoms is risky. Bulls should wait for a retest of the support around $1512, or wait until price holds above $1610 before considering longs.
In the near term, bullish momentum seems to be weakening—manage your position size carefully and set a strict stop-loss!
Do you think the $1512 bottom can hold up? Discuss in the comments! #eth