The "MACD" indicator is still under negative pressure on short timeframes, indicating that any expected rise may just be a correction and not a full reversal of the trend.
Expected scenarios
Scenario one (higher probability): consolidation below resistance (68%)
If the price fails to break through the $2,150 area with strong trading volume, it is likely that the price will remain confined within a narrow range between $2,100 and $2,180. This may be a period of accumulation before taking the next step.
Scenario two (limited rebound): False breakout (22%)
Given the oversold condition, the price may attempt to break through $2,150 reaching towards $2,200 - $2,260. However, with weak overall momentum and unclear strong catalysts, this breakout may not be genuine and could be followed by a quick return to decline.
Scenario three (negative): Support breakdown (10%)
If there is pressure on the $2,100 support and it breaks downwards, we may witness a rapid sell-off targeting the $2,000 - $1,980 level. Breaking below $2,000 will put the larger bearish scenario towards $1,800 on the table.
Trading recommendations
$ETH For rebound traders (high risk): buy near the $2,100 - $2,110 area, with a stop loss below $2,080, and take profits at $2,150 then $2,200.
· For short sellers: wait for the price to fail to break through $2,150 and show signs of weakness, or break the $2,100 level firmly to sell aiming for $2,020.
Important note: Recent flows indicate an outflow of funds from Ethereum ETF funds exceeding $130 million, which puts pressure on the market and necessitates caution in taking large buy positions before signals are confirmed.
Note: Technical analysis for educational purposes only, and not investment advice.
This is not financial advice, do your own research $ETH