ETH/USDT (1H) — Bounce From Support or Dead Cat?
$ETH just swept the recent low near 1,995 and printed a sharp rejection with high volume, suggesting a possible liquidity grab. RSI is sitting near oversold and price is attempting a short-term recovery, but Supertrend is still bearish and structure remains in a lower-high sequence.
Pattern watch: Possible relief bounce after a breakdown, forming a weak pullback inside a short-term downtrend channel.
Key levels:
• Support: 1,995–2,000 zone
• Resistance: 2,090–2,120 zone
• Trend flip only if price reclaims and holds above resistance with volume.
Trade idea: Aggressive traders may scalp long toward resistance with tight stops below the recent low. Safer approach is to wait for a confirmed breakout and trend reversal before swing longs. In downtrend conditions, quick profits > big targets.
Always manage risk — volatility is elevated.
