ETHUSD Bearish Rejection | Respecting Descending Trendline Resistance 📉
Description:
Ethereum (ETHUSD) is currently showing signs of bearish rejection on the 1H timeframe. Price recently rallied up to test a prominent descending trendline that has been capping the bullish momentum over the past few sessions.
Sellers actively defended this trendline dynamic resistance, preventing a clean breakout and leaving a noticeable rejection wick. As long as the price trades below this descending resistance line, the immediate bias remains bearish, setting up a potential corrective wave down to sweep internal liquidity pools and clean support levels below.
Key Structural Levels:
🔴 Trendline Invalidation Zone: 1,660.0 – 1,665.0 (Body close above trendline)
📉 Current Rejection Level: 1,651.5
🔵 1st Bearish Objective: 1,605.1
🔵 2nd Bearish Objective: 1,552.6
Trading Perspective:
Look for execution setups on lower timeframes (M15/M5) inside the rejection zone to catch the impulsive leg down toward the targets. A strong hourly candle body close above the descending trendline structure will completely invalidate this short setup.
This analysis is based on technical structure and market behavior, not financial advice.
Description:
Ethereum (ETHUSD) is currently showing signs of bearish rejection on the 1H timeframe. Price recently rallied up to test a prominent descending trendline that has been capping the bullish momentum over the past few sessions.
Sellers actively defended this trendline dynamic resistance, preventing a clean breakout and leaving a noticeable rejection wick. As long as the price trades below this descending resistance line, the immediate bias remains bearish, setting up a potential corrective wave down to sweep internal liquidity pools and clean support levels below.
Key Structural Levels:
🔴 Trendline Invalidation Zone: 1,660.0 – 1,665.0 (Body close above trendline)
📉 Current Rejection Level: 1,651.5
🔵 1st Bearish Objective: 1,605.1
🔵 2nd Bearish Objective: 1,552.6
Trading Perspective:
Look for execution setups on lower timeframes (M15/M5) inside the rejection zone to catch the impulsive leg down toward the targets. A strong hourly candle body close above the descending trendline structure will completely invalidate this short setup.
This analysis is based on technical structure and market behavior, not financial advice.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.