$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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