Honestly, don’t let someone else steer you off track—ignition is the main line. In this wave that surged and then pulled back—$ETH —the rhythm is actually pretty straightforward already. The upper pressure zone keeps being tested but can’t get through. And volume is weakening each time. This isn’t building momentum; it’s a signal that buy pressure can’t hold. Looking at the four-hour structure: after that high-volume bullish candle near the previous high, the following long momentum clearly shrank, yet the price is still lingering in the high area—classic signs of a stalled rally. The pullback afterward was quite decisive, which shows the selling pressure is real, not a fake move.
At this point, the rebound strength is getting weaker and weaker: the highs are shifting downward, and the lows are also shifting downward. A standard short-term descending channel has already formed.
Someone might ask: since it’s dropped so much, shouldn’t we start buying? My view is: don’t rush. In this kind of structure, rebounds are most likely opportunities to hand points to the shorts, not meant to help longs turn things around. Once key support is broken effectively, the vacuum below will open up—and the speed will be very fast. Conversely, as long as the upper resistance hasn’t been absorbed with volume, I’ll treat any rebound only as a repair/adjustment, not a reversal.
Over on Bitcoin, the attempt to push higher also meets resistance at the same time. Ethereum is still moving in tandem with it, which indicates this isn’t a single-coin issue—the entire market’s risk appetite in this range has been suppressed. Funds don’t have the intention to keep pushing higher, so the structure naturally tilts toward hunting for liquidity to the downside. My judgment is very clear: as long as resistance hasn’t been effectively broken through, the bias remains bearish. Rebounds are for selling/handing opportunities; only a breakdown will be the ignition. Don’t rush the timing—let the structure play out on its own. It’s far more reliable than trying to guess the bottom and top.
Gaze at the vastness over the mountains; observe the market’s subtle changes.
Walk with Uncle Xiong and witness gains and losses on the scale of heaven and earth.
#ETH
Click below to trade 👇
At this point, the rebound strength is getting weaker and weaker: the highs are shifting downward, and the lows are also shifting downward. A standard short-term descending channel has already formed.
Someone might ask: since it’s dropped so much, shouldn’t we start buying? My view is: don’t rush. In this kind of structure, rebounds are most likely opportunities to hand points to the shorts, not meant to help longs turn things around. Once key support is broken effectively, the vacuum below will open up—and the speed will be very fast. Conversely, as long as the upper resistance hasn’t been absorbed with volume, I’ll treat any rebound only as a repair/adjustment, not a reversal.
Over on Bitcoin, the attempt to push higher also meets resistance at the same time. Ethereum is still moving in tandem with it, which indicates this isn’t a single-coin issue—the entire market’s risk appetite in this range has been suppressed. Funds don’t have the intention to keep pushing higher, so the structure naturally tilts toward hunting for liquidity to the downside. My judgment is very clear: as long as resistance hasn’t been effectively broken through, the bias remains bearish. Rebounds are for selling/handing opportunities; only a breakdown will be the ignition. Don’t rush the timing—let the structure play out on its own. It’s far more reliable than trying to guess the bottom and top.
Gaze at the vastness over the mountains; observe the market’s subtle changes.
Walk with Uncle Xiong and witness gains and losses on the scale of heaven and earth.
#ETH
Click below to trade 👇