$ETH /USDT – Bearish Continuation After Sharp Breakdown

Market Structure:

ETH experienced a strong impulsive sell-off from the 3,030 resistance area, breaking multiple intraday supports with high momentum. The move created a clear bearish market structure, followed by a weak consolidation near lows — typical of a continuation setup rather than a reversal.

Key Resistance Zones:

2,980 – 3,030: Major rejection zone & previous supply

2,900 – 2,930: Minor intraday resistance (likely to be sold into)

Key Support Zones:

2,780 – 2,800: Immediate demand zone

2,720 – 2,750: Next liquidity pocket if downside continues

Price Action Insight:

The current sideways movement around 2,820–2,850 looks like bearish consolidation after distribution, not accumulation. Buyers failed to reclaim 2,900, confirming weakness. Any bounce into resistance is likely a lower high.

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Trade Outlook (Short Bias):

Entry Zone:

2,880 – 2,930 (on pullback / rejection)

Targets:

TP1: 2,800

TP2: 2,750

TP3: 2,700 (if momentum expands)

Invalidation / Stop Loss:

Clean break and acceptance above 3,030

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Conclusion:

ETH remains bearish below 3,030. The sharp sell-off suggests smart money distribution, and current price action supports a continuation to the downside unless buyers reclaim key resistance with strength.

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