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$ETH Short Setup Alert, Bear Analysis
$ETH /USDT shows a weak structure with lower highs after the sharp sell-off, and price is now grinding sideways under the 3,122โ3,161 resistance band. With rejection below 3,161, a move toward the 3,084 โ 3,055 demand area looks probable.
๐ Market Snapshot
Timeframe Analyzed: 1h
Current Price: 3,116.07
24h High: 3,184.39
24h Low: 3,054.65
Volume: 1.05B USDT
๐ Key Levels to Watch
Support: 3,084.30, 3,055.00, 3,054.65, 3,045.93
Resistance: 3,122.67, 3,161.03, 3,199.40
๐ฏ Trade Setup
Entry Zone: 3,110 to 3,130
TP1: 3,084.30
TP2: 3,055.00
TP3: 3,046.00
SL: 3,167.00
โ ๏ธ Invalidation
Setup invalid if ETH closes above 3,161 on 1h and holds the reclaim (bear thesis breaks).
โจ Summary
Momentum is still capped under resistance, so this looks like a sell-the-bounce setup. As long as price stays below 3,161, the path toward 3,046 remains in play. Watch for a rejection wick near 3,122โ3,161 and a breakdown back under 3,110 for the trigger.
#ETH #Ethereum #CryptoTrading #ShortSetup #TechnicalAnalysis