Ethereum has shifted into a clear bearish structure after breaking below a long-standing ascending channel Recent price action confirms a rejection from key resistance areas strengthening the case for a continued downside move
Technical Breakdown:
1. Ascending Channel Break:
ETH had been trading within a rising channel, forming consistent higher highs and higher lows. However, price decisively broke below this structure, showing sellers stepping in with strength.
2. Failed Retest Zones:
The chart shows that ETH attempted to retest the 2,386-2,444 zone (previous support, now acting as resistance). This zone also aligns with a.Bearish Order Block adding to the confluence for a rejection.
3. Bearish Market Structure
The recent lower high and lower low formation confirms a bearish trend shift
Buyers attempted a recovery but failed to reclaim lost levels, indicating weak demand at higher prices
Targets & Key POIs (Points of Interest)
Immediate Resistance Zones
2,386 – Minor structure resistance
2,441 – Key bearish OB / POI
Above that 2,682 – 2,764 remains a significant supply zone.
Bearish Targets
2,100 – First point of interest & support
2,000 – Major psychological and structural support
If price retests the OB and shows bearish confirmation (e.g rejection wick or strong bearish engulfing) it could offer a high-probability short setup toward these levels.
Strategy Notes:
This setup aligns with a classic break-retest-drop structure.
Ideal scenario: Price retraces toward the broken structure zone before continuation
Confirmation is essential—watch for reaction and momentum shifts near 2,386–2,441
Reminder:
This analysis is for educational purposes only Always combine technicals with your own system and risk management. Market conditions can change quickly—stay adaptive.
Thank you for the continued support—your likes and comments keep this community growing and motivate me to deliver even more valuable analysis!
best regards –TrendZelda!
Technical Breakdown:
1. Ascending Channel Break:
ETH had been trading within a rising channel, forming consistent higher highs and higher lows. However, price decisively broke below this structure, showing sellers stepping in with strength.
2. Failed Retest Zones:
The chart shows that ETH attempted to retest the 2,386-2,444 zone (previous support, now acting as resistance). This zone also aligns with a.Bearish Order Block adding to the confluence for a rejection.
3. Bearish Market Structure
The recent lower high and lower low formation confirms a bearish trend shift
Buyers attempted a recovery but failed to reclaim lost levels, indicating weak demand at higher prices
Targets & Key POIs (Points of Interest)
Immediate Resistance Zones
2,386 – Minor structure resistance
2,441 – Key bearish OB / POI
Above that 2,682 – 2,764 remains a significant supply zone.
Bearish Targets
2,100 – First point of interest & support
2,000 – Major psychological and structural support
If price retests the OB and shows bearish confirmation (e.g rejection wick or strong bearish engulfing) it could offer a high-probability short setup toward these levels.
Strategy Notes:
This setup aligns with a classic break-retest-drop structure.
Ideal scenario: Price retraces toward the broken structure zone before continuation
Confirmation is essential—watch for reaction and momentum shifts near 2,386–2,441
Reminder:
This analysis is for educational purposes only Always combine technicals with your own system and risk management. Market conditions can change quickly—stay adaptive.
Thank you for the continued support—your likes and comments keep this community growing and motivate me to deliver even more valuable analysis!
best regards –TrendZelda!
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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.
Related publications
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.