$ETH is seeing a healthy correction after the recent bullish push. Pullbacks like this are normal—they help relieve short-term overbought pressure and allow the market to consolidate before the next move. I’m watching closely because this level around $2,980–$2,995 is acting as a key decision zone.

Market Insights:

$ETH recently tested the $3,050 resistance and faced rejection, signaling some profit-taking and short-term weakness.

Overall trend remains bullish on the higher timeframes, but momentum is cooling, creating opportunities for disciplined short trades.

Volume analysis shows sellers stepping in around $2,995, confirming the zone as a strong resistance.

Support & Resistance:

Support: $2,950–$2,960 (previous swing lows and reaction area)

Resistance: $2,995–$3,010 (recent highs and volume cluster)

Trade Setup:

Entry Zone: $2,980–$2,990

Target 1: $2,950

Target 2: $2,920

Target 3: $2,890

Stop Loss: $3,010

Market Stats:

Recent volatility: 3.5% in the last 24 hours

Average daily range: $2,860–$3,050

Open interest slightly higher in short contracts, indicating cautious positioning

Pro Tip: Watch for the $2,980 level—if price consolidates below it with increasing selling pressure, it could accelerate the move toward Target 2 and Target 3. But if buyers defend this zone, the setup can fail quickly, so always respect the stop loss.

I’m seeing sellers quietly building—they’re testing this resistance. If this level holds, we could see a clean move down toward the targets. Patience, timing, and watching the volume closely are key to maximizing this short setup.