ETH tagged 50% of the down candle that took out local lows — textbook support zone for new longs.
Main risk: stops under $2,300 probably get swept before real reversal — watch for fakeout.
Holding above $2,400 keeps the bullish thesis alive, next target $2,780–2,800.
As always — manage risk, don’t get caught on the wrong side of a sweep.
Main risk: stops under $2,300 probably get swept before real reversal — watch for fakeout.
Holding above $2,400 keeps the bullish thesis alive, next target $2,780–2,800.
As always — manage risk, don’t get caught on the wrong side of a sweep.
Note
The main risk (stop sweep) materialized. No sustained bounce from $2,300 support yet.Bullish momentum only resumes above $2,400.
Plan & Forecast:
If ETH holds above $2,104–2,150: This remains the main demand area and could provide a platform for reversal back towards $2,400 and higher.
If ETH loses $2,100: Expect deeper correction and a wider flush, reassess the bullish thesis.
Key level: A reclaim of $2,400 is needed for any bullish continuation.
Action Points:
Watch for a fakeout and reclaim above $2,300/$2,400 to get long.
Avoid catching the knife while price is under main support; let confirmation lead.
Tighten risk and avoid overexposure while ETH is under pressure.
Summary:
ETH followed the risk scenario, with a stop sweep below $2,300. Now price sits at a critical support zone. Only reclaiming lost levels will restore bullish bias. Until then, stay defensive and ready for a fakeout reversal.
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.
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.