$ETH Support Test & Bearish Pressure 📉
Entry Zone: 1,980 – 2,050
Bullish Above: 2,185
TP1: 2,130
TP2: 2,199
TP3: 2,250
SL: 1,950
$ETH is currently facing significant bearish pressure on the 4H chart, trading at 2,049.75 with a 5.72% decline. The price action has broken below several local support levels, recently testing a low of 2,034.54. This move follows a rejection at the 2,199.02 resistance zone, forming a sharp downward impulse.
While we see some buying volume attempting to stabilize the price near the 2,023.04 level, the trend remains heavily weighted to the downside unless bulls can reclaim the 2,130 area. Traders should watch for a potential "double bottom" formation or a significant volume spike to signal a reversal; otherwise, a test of the sub-2,000 psychological level may be imminent.