$ETH surged from $2,770 to above $3,000 in just 3 days, currently trading near $2,957.
This sharp recovery has reignited bullish sentiment and pulled sidelined investors back in.
However, this move still looks more like a relief bounce within a broader corrective structure, not a confirmed trend reversal.
🔎 Why Caution Is Warranted
The bounce came after aggressive selling — typical of dead-cat / relief rallies
Higher-timeframe structure remains fragile
Liquidity above recent highs may already be taken
Momentum is weakening as price approaches key resistance
🎯 Downside Targets If Rejection Confirms
$2,400 (major support / demand zone)
$2,110 (strong macro support)
📌 Key Note
If ETH fails to hold above the $2,950–$3,000 region, the probability of a deeper continuation to the downside increases significantly.
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