$ETH USDT – STRONG REJECTION FROM $2,840! SHORT SETUP IN PLAY?

BEARISH ENGULFING CANDLE NEAR LOCAL HIGH

LONG UPPER WICK SIGNALS SELL PRESSURE

$ETH rallied sharply to $2,840 but faced immediate rejection, forming a strong bearish engulfing candle on the 1H chart. This signals heavy profit-taking and potential shift in intraday momentum.

The MACD remains below zero with a bearish crossover, confirming weakening bullish strength. The rejection wick suggests bulls failed to hold above resistance.

SHORT Entry: $2,802

TP1: $2,765

TP2: $2,735

SL: $2,845

Failure to reclaim $2,840 could lead to another leg down toward support zones.

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