Ethereum is at a high-stakes technical crossroads. After a sharp rejection at the $2,140 resistance zone, price action is now battling with the VWAP, and the bears seem to be regaining the upper hand.
🧱 THE WALL AT $2,140
This level has proven to be a formidable supply zone. Despite recent attempts to rally, ETH’s inability to reclaim this height suggests that bullish momentum is exhausted.
The Verdict: As long as we trade below $2,140, the path of least resistance remains downward.
📉 VWAP AS THE PIVOT
The Volume Weighted Average Price (VWAP) is currently serving as the "line in the sand."
Bearish Signal: Acceptance below VWAP confirms that sellers are back in control.
Downside Target: A clean break here opens the door for a rotational move toward the $1,800 region—the lower boundary of the current range and a major historical demand zone. 🕳️
📊 STRATEGY & OUTLOOK
Current market structure favors range rotation over trend continuation. Until ETH can flip $2,140 into support with significant volume, any price spikes should be viewed as relief rallies rather than a true reversal.
Trader’s Note: Caution is key. With volatility expanding, wait for a confirmed reclaim of the VWAP before looking for longs, or watch for the $1,800 sweep to find value. 🦅
🏁 BOTTOM LINE
Ethereum is stuck in a distribution phase. Rejection at resistance keeps the risk skewed toward the downside. Protect your capital and watch the $1,800 level closely. 🛡️
