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Leo524
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$ETH Approaching Key Resistance — Relief Rally in Play?
$ETH on the daily timeframe is currently attempting a recovery after sweeping liquidity near the $1950 - $1850 support area. Price reacted strongly from this demand zone and is now testing a short-term resistance cluster around $2.1K. If buyers manage to hold above the reclaimed value area, we could see continuation toward higher liquidity zones.
From a structure perspective, the broader trend is still corrective, but the 4H chart shows early signs of a momentum shift. Short-term moving averages are turning upward and price has reclaimed the local volume POC. This suggests buyers are beginning to defend higher prices, although confirmation above resistance is still needed.
RSI is recovering from oversold territory and currently sits near the neutral zone, indicating momentum is improving. We also saw a noticeable volume increase during the bounce, which could signal early accumulation. If buying pressure continues, a relief rally toward the $2.2K–$2.3K range becomes possible while the macro downtrend remains intact.
$ETH on the daily timeframe is currently attempting a recovery after sweeping liquidity near the $1950 - $1850 support area. Price reacted strongly from this demand zone and is now testing a short-term resistance cluster around $2.1K. If buyers manage to hold above the reclaimed value area, we could see continuation toward higher liquidity zones.
From a structure perspective, the broader trend is still corrective, but the 4H chart shows early signs of a momentum shift. Short-term moving averages are turning upward and price has reclaimed the local volume POC. This suggests buyers are beginning to defend higher prices, although confirmation above resistance is still needed.
RSI is recovering from oversold territory and currently sits near the neutral zone, indicating momentum is improving. We also saw a noticeable volume increase during the bounce, which could signal early accumulation. If buying pressure continues, a relief rally toward the $2.2K–$2.3K range becomes possible while the macro downtrend remains intact.
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