After Ethereum reached a daily high of $2456, it retreated, forming an inverted hammer with a long upper shadow. The upper shadow length reached $38, corresponding to the selling pressure linked to the $107,500 Bitcoin resistance level.
The MACD on the hourly chart formed a second death cross below the zero line (the first death cross occurred on June 25, 2025). The length of the green momentum bar expanded from 0.8 to 1.5, corresponding to the price dropping from $2420 to $2377, and the volume indicates that bearish momentum is increasing.
Ethereum: Short near 2445, targeting 2390, 2360
