#Ethereum
📈 Ethereum: Attempted recovery or another bull trap?
Ethereum ($ETH ) is showing a rebound after falling to the critical $1.5K zone. Locally, the mood has improved, but on higher timeframes, the trend remains bearish. The next few days will be crucial to understand: is this the beginning of a reversal or just a technical rebound before a new decline?
Let's analyze the technical picture and market sentiment
📅 Daily chart: Bears are still in control
Despite the current growth to $1.7K, the global market structure remains bearish:
$ETH is trading well below important moving averages: 100 EMA ($2.1K) and 200 EMA ($2.4K).
The long-term descending trend line continues to put pressure on the price from above.
Key Resistance Zones (Fibonacci): If the rise continues, sellers will become active at the levels of $1.77K (0.5 Fib), $1.83K (0.618 Fib) and $1.92K (0.786 Fib). These zones are potential reversal points back to the downside.
⏱ 4-hour chart (4H): Local optimism
On the lower timeframe, the picture looks more constructive:
$ETH has formed a strong momentum from the bottom and is currently holding a bullish imbalance (Fair Value Gap) around $1.64K. This is our nearest support zone.
The RSI index has risen above 50, indicating renewed buying power.
Scenarios:
If ETH holds $1.64K and consolidates above $1.77K, we may see a short squeeze to $1.83K and $1.92K.
A loss of $1.64K would completely cancel the bullish scenario and send the price to retest $1.5K.
📊 On-chain sentiment: What are the whales doing?
The Coinbase Premium Index metric (a demand indicator from US institutions) is still in the negative zone (-0.04), which indicates weak spot interest from large players.
However, there is a positive signal: the index has rebounded sharply from the extreme lows (-0.15), which usually signal market capitulation. This means that the selling pressure is weakening, but for a full-fledged reversal, the metric must turn into a stable plus.
📈 Ethereum: Attempted recovery or another bull trap?
Ethereum ($ETH ) is showing a rebound after falling to the critical $1.5K zone. Locally, the mood has improved, but on higher timeframes, the trend remains bearish. The next few days will be crucial to understand: is this the beginning of a reversal or just a technical rebound before a new decline?
Let's analyze the technical picture and market sentiment
📅 Daily chart: Bears are still in control
Despite the current growth to $1.7K, the global market structure remains bearish:
$ETH is trading well below important moving averages: 100 EMA ($2.1K) and 200 EMA ($2.4K).
The long-term descending trend line continues to put pressure on the price from above.
Key Resistance Zones (Fibonacci): If the rise continues, sellers will become active at the levels of $1.77K (0.5 Fib), $1.83K (0.618 Fib) and $1.92K (0.786 Fib). These zones are potential reversal points back to the downside.
⏱ 4-hour chart (4H): Local optimism
On the lower timeframe, the picture looks more constructive:
$ETH has formed a strong momentum from the bottom and is currently holding a bullish imbalance (Fair Value Gap) around $1.64K. This is our nearest support zone.
The RSI index has risen above 50, indicating renewed buying power.
Scenarios:
If ETH holds $1.64K and consolidates above $1.77K, we may see a short squeeze to $1.83K and $1.92K.
A loss of $1.64K would completely cancel the bullish scenario and send the price to retest $1.5K.
📊 On-chain sentiment: What are the whales doing?
The Coinbase Premium Index metric (a demand indicator from US institutions) is still in the negative zone (-0.04), which indicates weak spot interest from large players.
However, there is a positive signal: the index has rebounded sharply from the extreme lows (-0.15), which usually signal market capitulation. This means that the selling pressure is weakening, but for a full-fledged reversal, the metric must turn into a stable plus.