ETH is in a clear 4h downtrend, trading well below its major EMAs with expanding relative volume on the latest selloff. The 1h breakdown through the 1960-1950 area was impulsive, and the weak bounce has so far failed under the new supply shelf around 1927-1931. Favor a short only on a retest of that shelf; invalidation is a reclaim above the 1944.5 reaction high, with the prior 1894 swing low as the first downside target.
📍 Entry: 1928.5
🛑 Stop: 1946.0
🎯 Target: 1894.0
⚖️ R:R: 1.97
📍 Entry: 1928.5
🛑 Stop: 1946.0
🎯 Target: 1894.0
⚖️ R:R: 1.97
monk.trade — Trade setups and market intelligence
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monk.trade — Trade setups and market intelligence
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.