Bearish Continuation or Rebound Ahead ?
The bands are widening, indicating increased volatility.
Price has been hugging the lower Bollinger Band, suggesting a strong downtrend.
Increased Volume on Sell-Off: The recent strong bearish move was accompanied by high volume, confirming strong selling pressure.
Possible Capitulation?: If volume spikes further while price stabilizes, it could indicate potential short-term bottoming.
Support: Around $2,000 (psychological level).
Resistance: Near $2,500 - $2,600 (recent breakdown level & middle Bollinger Band).
Bearish Bias: Price action and indicators suggest further downside unless buyers step in strongly.
Short-term Relief Bounce Possible: If ETH holds the $2,000 level, a temporary rebound could occur.
Bearish Scenario: If ETH closes below $2,000, expect further downside toward $1,800 or lower.
Bullish Recovery: A strong close above $2,500 would indicate potential trend reversal.
Wait for Confirmation: Watch for a bullish reversal pattern or volume divergence before entering long positions.
