2 hours ago
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BEARISH 📉 : Ethereum struggles to reclaim $2,100 as resistance remains strong
Ethereum's recent recovery attempts remain weak, with the price failing to convincingly break key levels. The asset is at a critical point where its next move could shape its short-term trend.
No 5-Wave Breakout Yet
- Ethereum trades in a vulnerable zone without a clear five-wave impulsive structure or a decisive break above recent highs.
- The bounce from last week's low appears corrective, suggesting continued bearish or sideways movement.
- The current chart area is significant, as markets often stabilize after sharp declines.
$2,100 Rejection Signals Resistance Flip
- Luca, an investor, notes that Ethereum's recovery faced rejection at the $2,100 level, turning previous support into resistance.
- Failure to reclaim this range indicates fragile upside momentum.
- Further decline towards higher-timeframe support zones is probable without breaking key resistance levels.
- Investors are advised to hedge against downside exposure until clear strength and level reclamation are evident.
