🔔 Price Action Update: $ETH
Ethereum just got rejected hard from the key $4700–$4800 resistance zone after its strong rally. This region has historically been a heavy supply zone, and today’s reaction shows sellers are stepping back in.
📊 Market Structure
Momentum is cooling off.
Structure shift hints at rising selling pressure.
A possible lower-high setup could signal trend reversal or a deeper pullback.
📍 Short Bias Setup
Entry Zone: $4200–$4350
Stop-Loss: Above $4765
Target 1: $3800
Target 2 (Extended): $3400–$3325 (major support)
🔎 Summary
As long as $ETH stays under $4700 resistance, short bias holds. A break below $4300 could trigger a sharper drop towards $3800, with extended downside eyeing $3400–$3325.