🔍 Ethereum (ETH/USD) Technical Analysis — Bearish Rejection Below Resistance ⚠️
📅 Date: June 4, 2025
📊 Chart Type: 2-Hour Timeframe
💱 Exchange: Binance
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🧠 Overview:
The chart displays a clear range-bound market between well-defined resistance and support zones. The most recent price action suggests a rejection from the resistance region, hinting at a possible downward move toward support.
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🟧 Key Levels:
Resistance Zone: $2,720 – $2,760
Price has tested this zone multiple times and failed to break above decisively.
Marked as a strong supply area where sellers dominate.
Support Zone: $2,460 – $2,490
This area has historically attracted buying interest, causing price reversals.
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📉 Market Structure & Price Action:
The recent swing high formed a lower high relative to the peak on May 29, suggesting bearish momentum.
A projected bearish move is marked on the chart with a blue arrow 📉, forecasting a drop from around $2,640 down to the support zone near $2,480.
Multiple failed attempts to break resistance signal a potential trend continuation to the downside within this trading range.
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⚠️ Trading Implications:
Short-term bias: Bearish 🔻
Confirmation needed: A breakdown below $2,600 with volume would strengthen bearish conviction.
Target for bears: $2,480 support area
Invalidation zone for this outlook: A breakout and close above $2,760 would shift the bias to bullish.
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📌 Conclusion:
Ethereum is currently trading within a well-defined horizontal channel. With the latest rejection near resistance, the probability favors a move down to the support area. Traders should monitor key levels closely for confirmation before entering positions.
📈 Tip: Use proper risk management and watch for candlestick confirmation at critical levels.
📅 Date: June 4, 2025
📊 Chart Type: 2-Hour Timeframe
💱 Exchange: Binance
---
🧠 Overview:
The chart displays a clear range-bound market between well-defined resistance and support zones. The most recent price action suggests a rejection from the resistance region, hinting at a possible downward move toward support.
---
🟧 Key Levels:
Resistance Zone: $2,720 – $2,760
Price has tested this zone multiple times and failed to break above decisively.
Marked as a strong supply area where sellers dominate.
Support Zone: $2,460 – $2,490
This area has historically attracted buying interest, causing price reversals.
---
📉 Market Structure & Price Action:
The recent swing high formed a lower high relative to the peak on May 29, suggesting bearish momentum.
A projected bearish move is marked on the chart with a blue arrow 📉, forecasting a drop from around $2,640 down to the support zone near $2,480.
Multiple failed attempts to break resistance signal a potential trend continuation to the downside within this trading range.
---
⚠️ Trading Implications:
Short-term bias: Bearish 🔻
Confirmation needed: A breakdown below $2,600 with volume would strengthen bearish conviction.
Target for bears: $2,480 support area
Invalidation zone for this outlook: A breakout and close above $2,760 would shift the bias to bullish.
---
📌 Conclusion:
Ethereum is currently trading within a well-defined horizontal channel. With the latest rejection near resistance, the probability favors a move down to the support area. Traders should monitor key levels closely for confirmation before entering positions.
📈 Tip: Use proper risk management and watch for candlestick confirmation at critical levels.
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#XAUUSD Trader
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Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.