$ETH : The $2,340 Rejection was the Trap. Time to Fade the Relief? 📉⚠️
Ethereum just gave us a textbook "Liquidity Hunt." While retail was cheering the break above $2,340, the tape was showing aggressive institutional selling. That impulsive move was purely designed to clear out the early shorts before the real structural markdown begins.
$ETH is now back at the $2,310 pivot. The 4H candles are printing heavy upper wicks, signaling that the supply at $2,340 is simply too thick to penetrate without a deeper re-accumulation phase. Inside, we don't buy the "green-candle-hype." We look for the exhaustion.
The volume gap between $2,240 and $2,280 is still wide open. If we lose the $2,288 daily open on a 4H close, expect a violent flush to sweep the weekend's trapped longs.
I’m positioning for a short-term correction to the downside. The data says the top is in for now. See our tactical setup below.
#Ethereum #CryptoTrading #MarketUpdate #MarketUpdate #tradingStrategy The Tactical Short Setup:
$ETH /USDT
We are looking to fade the next minor relief bounce into the newly established resistance zone.
Entry Zone: $2,322 – $2,335
Rationale: This zone aligns with the 0.618 Fibonacci retracement of the local flush and the broken minor support. We want to catch the "lower high."
TP1: $2,285 (Daily pivot/Morning low; move SL to entry here)
TP2: $2,240 (Structural support and weekly volume node)
TP3: $2,210 (Primary April demand block)
SL: $2,352
Rationale: A break and close above the $2,345 rejection wick invalidates the bearish bias and suggests a short squeeze toward $2,400 is back on the table.