📉 ETH – Bounce Incoming or Deeper Dive? Let’s Talk. 📈
Ethereum has been under pressure lately, testing key support zones as the broader market shows signs of indecision. But the big question remains: Is ETH prepping for a bounce, or are we headed for a deeper correction?
🔍 Technical Snapshot:
Support Levels: $3,400 and $3,150 are the main zones to watch. ETH recently tapped these levels, showing signs of buyer interest—but no strong follow-through just yet.
Resistance Overhead: $3,730–$3,800 remains a critical barrier. ETH needs a clean break above this zone to reignite bullish momentum.
RSI & Momentum: On the daily, RSI is approaching oversold territory, hinting at a potential relief bounce—but volume remains thin, and bears still have the edge.
🧠 Market Sentiment:
Derivatives data shows funding rates cooling off, suggesting leveraged longs have been flushed—potentially clearing the path for a healthier move up.
ETH/BTC ratio has been weak, implying altcoin dominance is lagging. For a real bounce, we’ll need to see ETH outperform BTC again.
💡 Key Catalysts to Watch:
Any news around ETF approvals, L2 adoption metrics, or macro signals like CPI/Fed decisions could flip the script quickly.
On-chain data shows whale accumulation starting again near $3,200—smart money may be positioning early.
📊 Scenarios:
Bounce Case: ETH defends $3,400, reclaims $3,600 on solid volume, and targets $3,800+ with improved sentiment.
Deeper Dive: Break below $3,150 could trigger a cascade to $2,900 or even $2,700 before real demand kicks in.
🗣️ Your Take? Are we bottoming out here or is more pain ahead? Let’s chart it out together—drop your analysis or trade ideas in the comments 👇
