Here’s the uncomfortable part.
A 15% candle feels strong. It grabs attention. It shifts mood fast.
But strength isn’t measured by the size of a single candle — it’s measured by what price does after it.
Right now,
$ETH is pressing into the $2.1K–$2.15K zone. That level isn’t random. It was prior support. It broke. And when support breaks in a downtrend, it often becomes supply on the way back up.
This is the first real test.
I mentioned earlier that a bounce was possible — and we got it. That part was technical: oversold conditions, leverage flushed, short-term liquidity reset. But bounces inside a downtrend happen all the time.
The difference between a bounce and a reversal is acceptance.
If
$ETH can reclaim $2.1K–$2.15K and hold it on meaningful closes — not a quick wick, not a 15-minute push — but sustained acceptance above that range, then structure begins to shift.
That’s when we can talk about extension.
In that case, the path opens toward:
• $2.18K (local magnet)
• $2.7K
• $2.85K
• $3.3K
But only step by step. Markets don’t teleport — they transition.
Now the other side, which matters just as much.
If price keeps tapping $2.1K and getting rejected, then nothing has changed structurally. It remains:
Lower highs.
Relief rallies sold into.
Supply still active.
In that scenario, the recent 15% move becomes liquidity — a better price for distribution, not accumulation. And the $1.74K–$1.7K zone stays relevant as the key support to monitor.
This is how trends behave.
In downtrends, rallies feel convincing right before they stall. In uptrends, pullbacks feel scary right before continuation.
Right now,
$ETH is at a decision point. Not emotionally. Structurally.
Reclaim and hold — narrative shifts.
Reject again — downtrend remains intact.
This level doesn’t guarantee direction.
But it tells you which side currently has control.
#ETH #Ethereum #Crypto