$ETH /USDT BEARISH RETRACEMENT – ETHEREUM FACES PRESSURE AFTER REJECTING NEAR $3,950!
$ETH is trading around $3,850, down nearly -1.9%, after failing to sustain above the $3,930 resistance zone. The rejection from the upper range and a slight decrease in buying volume indicate a short-term cooling phase. The price is now testing key support near $3,780–$3,720, and if this zone breaks, a deeper pullback toward $3,650 could unfold. Momentum indicators (MACD & RSI) show mild bearish divergence, signaling potential short-term weakness.
Trade Setup (Short Entry):
Entry: $3,860 – $3,900
Take Profit (TP): $3,750 / $3,700 / $3,650
Stop Loss (SL): $3,960
Market Outlook:
Although ETH shows temporary bearish retracement, the broader market structure remains bullish as long as the price stays above $3,650. A bounce from this level could reignite bullish momentum toward the $4,000 psychological mark. Traders should watch for volume confirmation before positioning for the next move.