BEARISH 📉 : Ethereum’s Recovery Momentum Weak, Downside Risks Persist

Ethereum is currently attempting to recover from recent selling pressure but lacks the momentum needed for a confirmed bullish reversal. Key resistance levels remain intact, posing a downside risk unless there is a structural shift.

No Impulsive Break, No Bullish Confirmation

The current bounce appears corrective rather than impulsive, lacking a clear five-wave advance.
No technical evidence yet suggests a sustainable bottom has formed.
After significant liquidation, markets are reactive; potential reversal signals should be monitored closely.
Close monitoring of lower-timeframe microstructures is essential to assess Ethereum's strength or potential downward trend.

Ethereum

Ethereum Attempts Recovery After Sunday Selloff

Ethereum is stabilizing after a sharp selloff, with key liquidity reference points at $1,929 and $2,107.
A push toward higher prices is anticipated, but nearby liquidity pools need mitigation before considering long positions.
Short setups remain valid given the higher-timeframe downward trend.
Long entries are preferred after a sweep of weak pivots ($1,946 and/or $1,929 lows).
If price rallies without touching these lows, short opportunities may arise following a market structure break near the $2,107 high.
H1 liquidity around $2,015 offers potential scalp setups based on price acceptance or rejection.
No trades are placed today due to a bank holiday, sticking to the outlined plan unless invalidated by price action.

Ethereum