$ETH is trading at $4,628.39, down 2.29% in the past 24 hours after a sharp rejection from the $4,788.00 resistance. Rising selling pressure suggests a possible short-term bearish phase.
Technical Picture:
The recent rejection shows sellers defending resistance zones strongly. If $ETH fails to reclaim $4,675, bears may keep control, driving the price toward lower supports.
Short Trade Setup:
Entry Zone: $4,625 – $4,640
Take Profit Targets:
1️⃣ $4,580
2️⃣ $4,530
3️⃣ $4,480
Stop Loss: $4,675
Market Insight:
Over 1.26M $ETH traded in the last day, showing high activity. Staying below $4,675 keeps downside risks in play, with a clean break under $4,580 potentially accelerating a move toward $4,480, completing the correction.
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