$ETH is now resting just below a major overhead resistance zone positioned between $2,070 – $2,100. This specific area represents the previous breakdown floor that has now flipped into a heavily defended supply block. Reclaiming this territory is the absolute main focus for any potential recovery because it previously served as a reliable level where buyers tried to absorb selling pressure.

​If buyers manage to engineer a strong relief rally that reclaims the $2,070 – $2,100 zone then we could see a broader push back up into the mid-range supply between $2,120 – $2,140. However, if sellers firmly reject any upside attempts at this overhead resistance, the price will likely continue its descent toward the next major psychological support floor waiting between $1,940 – $1,960.

​The broader market structure remains heavily weighted to the downside following this clean structural breakdown. Looking for long entries immediately after such a rapid drop carries severe risk until a clear accumulation base begins to form. Capital preservation remains paramount while the asset continues to carve out its bottoming structure beneath major overhead supply.

#Macro Insights# #ETH #Altcoin Season#