Ethereum is trying to rebound from recent selling pressure, but so far the recovery lacks the strength needed to confirm a lasting bottom. With an impetus that feels corrective rather than impulsive and pivotal resistance levels remain unchanged, there is a risk of deterioration unless buyers manage to make a decisive structural change.
No impulsive breakdown, no bullish confirmation
According to recent Ether updated by More Crypto Online, the bearish scenario remains valid unless the price provides a clear impulsive five-wave rally or decisively breaks above the weekend high. The rebound from last week’s lows now appears corrective rather than impulsive.
Momentum is narrow and the structure does not yet suggest that a constant bottom has formed. So far, there is no clear technical evidence that the trend is reversing permanently.
However, Ethereum is traded in a technically significant zone. After the recent one liquidation equally, markets have become more reactive, so it is crucial to remain vigilant for potential reversal signals that could change the short-term outlook.
There is still no confirmation as of yet. Until a stronger structural change emerges, the lower micro time frames should be closely monitored structure remains imperative to determine whether Ethereum is building strength or returning to a downward trajectory.
Ethereum is trying to recover from Sunday’s sell-off
Ethereum is trying to stabilize after Sunday’s piercing sell-off, showing early signs of recovery. In his latest analysis, Lennaert Snyder excellent that like Bitcoin, ETH printed relatively feeble weekend highs around $1,929 at the low and $2,107 at the high. These levels now serve as key liquidity benchmarks for the coming week.
Snyder’s broader plan is to pursue higher prices, but he prefers that nearby liquidity pools be squeezed before considering high-quality long positions. As the trend on higher time frames continues to point down, miniature setups remain valid if the right structure emerges.
For long entries, I want to see a shift of the lows at $1,946 and/or $1,929 as both represent feeble reversal points, ideally involving a full shift of the weekend low. Such a move could provide the liquidity needed for a highly likely turnaround towards weekend highs. However, if the price rises directly from current levels and leaves these lows untouched, it would instead look for miniature opportunities after market structure break (MSB) near the $2,107 high.
Additionally, liquidity in the first half of the year is around $2,015, which offers potential scalp setups depending on whether the price gains acceptance above it or abruptly rejects it. Long positions will be considered for a neat recovery, while a reversal failure may favor a miniature position. As it is a public holiday, no trades are made today and the plan presented remains intact unless price action invalidates it.
Featured image from Pixabay, chart from Tradingview.com
