$ETH: Technical Signals Turn Negative as $ETH Selling Pressure Rises
SHORT SETUP ETH
Entry: $2496.30 - $2496.80
Stop Loss: $2585.00
Take Profit: $2319.65 (2R)
Key Levels: Support $2487.57 | Resistance $2496.60
Technical Analysis for $ETH: Short bias: price sits at the 1hour resistance around 2496.6, below EMA50 (2510) and far under EMA200 (2602). Stochastic is overbought (96) and orderbook shows a -38% askside imbalance. A break below 2496.6 could push toward the 1hour support 2487.6, with a stop at 2585 and TP near 2319. SHORT bias targets continuation toward support, with resistance as the invalidation
Market Context: BTC is modestly bullish (+0.4%) while the broader market is broadly positive (71% green).
SHORT $ETH
SHORT SETUP ETH
Entry: $2496.30 - $2496.80
Stop Loss: $2585.00
Take Profit: $2319.65 (2R)
Key Levels: Support $2487.57 | Resistance $2496.60
Technical Analysis for $ETH: Short bias: price sits at the 1hour resistance around 2496.6, below EMA50 (2510) and far under EMA200 (2602). Stochastic is overbought (96) and orderbook shows a -38% askside imbalance. A break below 2496.6 could push toward the 1hour support 2487.6, with a stop at 2585 and TP near 2319. SHORT bias targets continuation toward support, with resistance as the invalidation
Market Context: BTC is modestly bullish (+0.4%) while the broader market is broadly positive (71% green).
SHORT $ETH