Short-Term Trend (4-Hour Timeframe)
$ETH 4H Alert: Is the Bear Channel Breaking? Don't Get Faked Out!
Zooming in reveals the struggle: $ETH is currently under heavy Bearish Pressure on the 4H chart, pinned beneath a descending trend channel.
The Trap: Bulls are trying to claw back losses after tapping into the $2,760–$2,800 Demand Zone, but every bounce has been capped by the channel resistance, keeping short-term sellers in control.
Key Signal: The RSI in $ETH is oversold, which usually screams "bounce incoming!" but a low RSI under resistance is a weak signal. The momentum (MACD) remains negative.
The Trade: For a high-conviction long, we need the 4H candle to close cleanly above the descending trendline. Failure to do so means $2,940 is the immediate retest target. Trade the channel, not the hopium.
