I’m looking at ETH trading around the $2,000–$2,100 area, and to me, this zone is acting like a key resistance that price keeps struggling to break cleanly. I can see multiple failed attempts (FA) near the highs, which tells me buyers are getting weaker every time price pushes up there.
Right now, I’m treating this as a potential distribution phase rather than continuation. The structure shows lower highs forming after each rejection, and momentum doesn’t look strong enough to sustain a breakout yet.
As long as ETH stays below that resistance level, I’m leaning slightly bearish in the short term. I think there’s still a decent chance price pulls back before any real continuation. If that happens, I’ll be watching lower support zones for a possible retest and reaction.
However, if ETH can finally break and hold above that resistance with strong volume, then I’d reconsider and shift bias back to bullish. But for now, I’m staying cautious and not chasing the highs.