Short Sell Signal at Price $ETH /USDT - Increasing Bearish Pressure After Rejection!🔥💯
The price at $ETH faced strong resistance near $2,598 and sharply declined to the $2,490 area. The recent bearish engulfing pattern on the 15-minute chart indicates the beginning of a corrective phase, especially after an extended rise.
Trading Setup (Short Sell):
Entry Price: $2,520 - $2,500
Target: $2,451
Stop Loss: $2,541
Why Short Selling?
After testing the high at $2,598, Ethereum recorded a strong upper wick and declined with increasing selling volume. This indicates that sellers are actively defending the upper resistance level, as the price now forms a potential lower high and targets the support level at $2,450.
Risk Management Advice:
Stick to the Stop Loss (SL) level above $2,541 - a structure invalidation occurs above this level. Reassess the situation if bullish momentum returns.