$ETH – Bulls Exhausted as Bearish Momentum Resumes at 3,100
Short $ETH open a new short position now
Entry: 3,084 – 3,120
SL: 3,250
TP: 2,980 – 2,910 – 2,850
Price Action Description:
On the 4h chart, ETH is displaying a rather negative outlook as its recovery attempts are being firmly rejected below the MA7 and MA25 clusters. The current candlestick structure features red candles with long upper wicks, confirming that heavy supply is still lurking whenever the price tries to climb. With the price consistently closing below 3,100 and the MA99 (purple line) under increasing pressure, it is evident that buyers have run out of steam. I believe that without a sudden surge in buying volume to break above 3,150, ETH is likely to slide back toward lower support zones around 2,900 to find fresh liquidity.
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