$ETH (ETH) Faces Sharp Intraday Rejection Bulls Testing Nerves Near Key Support
Ethereum is showing a volatile intraday structure on the ETH/USDT pair, currently hovering around 2338 after a sharp rejection from the 2385 resistance zone. The 15m chart reveals a clear bearish momentum shift, with price slicing below the MA60 (~2349), signaling short-term weakness. A sudden sell-off pushed ETH toward 2336, forming a local bottom, followed by a weak bounce — indicating buyers are present but lacking strength.
Volume spikes during the drop confirm aggressive selling pressure, while declining follow-up volume suggests hesitation from both sides. The lower highs pattern forming after the drop hints at a potential continuation unless bulls reclaim the 2350–2355 range quickly. Immediate support sits near 2335–2330; a breakdown here could open doors toward deeper retracement zones. On the flip side, reclaiming MA60 could shift sentiment back to neutral-to-bullish.
Overall, ETH is at a decision point — consolidation or continuation. Traders should watch volume confirmation and breakout direction carefully before entering positions.
#Ethereum #ETHUSDT. #cryptotrading #TechnicalAnalysis #altcoins
