⸻
🔍 Technical Overview
Ethereum has broken down from its ascending channel, invalidating the earlier bullish projection toward $4,000. After failing to hold the channel midline around $3,577, price dropped sharply to $3,360, forming a new bearish descending channel.
Currently, ETH is trading near the midline of this bearish channel, which typically acts as a decision point — not a buying zone — in smart money models.
⸻
🧠 NEoWave Interpretation
We may be inside a Complex Corrective Wave, possibly a Running or Contracting Flat evolving after the March top. The current structure resembles a B-wave trap, where price fakes out the upside before shifting momentum sharply downward. The break below the ascending channel midline confirms this bearish shift.
⸻
📊 Smart Money Summary
• 🟥 BOS confirmed on 1H and 4H (lower highs and lower lows)
• 🔻 Midline failure acted as a smart money trap, followed by a liquidity sweep below $3,490
• 📦 Bullish Order Block around $3,490–$3,520 has been tapped, prompting a minor reaction
• 🟡 Current resistance sits near the channel top ~ $3,715
⸻
🎯 Trade Scenarios
📌 Bearish Continuation:
If price fails to reclaim above $3,715, a retest and rejection from the channel top could trigger continuation toward $3,300–$3,250.
📌 Bullish Reversal (less likely for now):
Only a clean break and hold above $3,720 would suggest that bulls are regaining control, opening path toward $3,900–$4,000 — though this scenario is weakened after structural damage.
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⚠️ Trader Tip:
Avoid buying into midline reactions in weak channels. Better long setups form after stop-hunts, ideally near bullish OBs + internal BOS confirmations.
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✅ Conclusion
Ethereum remains under bearish pressure after losing its ascending structure. Unless price reclaims the $3,715 resistance zone with momentum, downside continuation remains likely.
⸻
📌 Save this analysis
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📊 CryptoPilot – Advanced Technical Analysis for BTC & Altcoins
🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
📥 Telegram Chanell : @CryptoPilot_Trading
🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
📥 Telegram Chanell : @CryptoPilot_Trading
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.