$ETH just experienced a short liquidation of $2.6524K at $2937.35. This correction is healthy, helping to shake out weak hands and relieve overbought conditions before the next move.

Trade Setup:

Entry Zone: $2930–$2950 key reaction area from previous support and near the 0.618 retracement of the last swing.

Target 1: $2885 first strong support level from prior consolidation.

Target 2: $2840 major support zone tested multiple times in the past.

Stop Loss: $2975 above recent swing highs to prevent premature exit on minor spikes.

I’m watching this zone closely; they’re building strength around $2930–$2950. If this level holds, it could provide a clear path for shorts, reinforced by the previous support and retracement confluence.