Ethereum faced strong rejection from the 2,390 resistance zone and is now pulling back into a key demand area around 2,260–2,280. This zone aligns with previous structure and acts as critical support in the short term.
Market structure shows a recent CHoCH followed by downside pressure, suggesting weakening bullish momentum. However, as long as price holds above this demand, a recovery remains possible.
A bounce from this zone could push ETH back toward 2,340, and a successful break and hold above that level may open the path toward 2,390 again. On the downside, a clean break below 2,260 would invalidate the bullish setup and could lead to further selling toward 2,230 and lower.
Waiting for confirmation (reaction, structure shift, or strong bullish candles) before entry is key here.
Market structure shows a recent CHoCH followed by downside pressure, suggesting weakening bullish momentum. However, as long as price holds above this demand, a recovery remains possible.
A bounce from this zone could push ETH back toward 2,340, and a successful break and hold above that level may open the path toward 2,390 again. On the downside, a clean break below 2,260 would invalidate the bullish setup and could lead to further selling toward 2,230 and lower.
Waiting for confirmation (reaction, structure shift, or strong bullish candles) before entry is key here.
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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.