On the 4-hour chart of ETHUSD, the price has entered a clearly defined Sell Zone near 2,520–2,530 after a strong bearish rejection from the 2,695 resistance level. The price action now suggests a potential shift toward a deeper correction phase.
The green zone marks a key area of prior support turned resistance. After retesting this zone, ETHUSD failed to maintain upward momentum, which increases the probability of further downside. The chart indicates a likely bearish structure forming with lower highs and lower lows.
If the price holds below the Sell Zone and confirms rejection, the following targets can be monitored:
First Target: 2,376
Second Target: 2,217
Final Bearish Target: 2,015–2,033 (Major demand zone)
The projected bearish movement also shows a potential corrective bounce at each major support level before continuing lower.
Key Levels:
Sell Zone Resistance: 2,520–2,530
Immediate Resistance: 2,695
Support Levels: 2,376 / 2,217 / 2,015
Trading Strategy:
A short position from the Sell Zone with a stop-loss above 2,530 could offer a high risk-to-reward setup.
Watch for price behavior near support levels to either take partial profits or trail stops.
Note: This setup is based on technical structure only. Always use proper risk management and stay updated with news and fundamentals that may impact price action.
The green zone marks a key area of prior support turned resistance. After retesting this zone, ETHUSD failed to maintain upward momentum, which increases the probability of further downside. The chart indicates a likely bearish structure forming with lower highs and lower lows.
If the price holds below the Sell Zone and confirms rejection, the following targets can be monitored:
First Target: 2,376
Second Target: 2,217
Final Bearish Target: 2,015–2,033 (Major demand zone)
The projected bearish movement also shows a potential corrective bounce at each major support level before continuing lower.
Key Levels:
Sell Zone Resistance: 2,520–2,530
Immediate Resistance: 2,695
Support Levels: 2,376 / 2,217 / 2,015
Trading Strategy:
A short position from the Sell Zone with a stop-loss above 2,530 could offer a high risk-to-reward setup.
Watch for price behavior near support levels to either take partial profits or trail stops.
Note: This setup is based on technical structure only. Always use proper risk management and stay updated with news and fundamentals that may impact price action.
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Daily updates and news
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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.