$ETH Market Update
ETH recently dropped from the $2879 peak and found short-term support at $2685. Current price action shows a weak bounce, hovering around $2700.
🟥 Bearish scenario (primary):
If ETH fails to reclaim the $2720–2740 zone, further downside towards $2650–2600 is likely.
Volume surged on the last red candle, and MACD remains deep in the negative — indicating bearish pressure is still in control.
🟩 Bullish alternative (less likely):
Only a confirmed breakout above $2740 with strong volume could open the door back to $2780–2820, but signs of strength are lacking for now.
📉 Overall trend: Bearish
This rebound looks more like a technical relief than a reversal. Watching closely for rejection at resistance zones to consider potential short entries.