Artem Voloskovets
⬤ Ethereum took a sharp dive down to around $2,108 this week before recovering a bit. The drop mirrored Bitcoin's move, with both cryptos getting hit by sell-side liquidity sweeps before finding some support. Even with the bounce, ETH is still locked in a downtrend across pretty much every timeframe.
⬤ The recovery hasn't changed the bigger picture—Ethereum's still trading below important resistance levels and hasn't shown any real sign of flipping bullish. The bounce looks more like a reaction than an actual trend reversal, with sellers still firmly in charge. Right now, ETH looks vulnerable unless it can push back above key zones.
⬤ Traders are now watching for a potential move above $2,337, which could set up new short opportunities if the price breaks down again on the 30-minute or 15-minute charts. There's also resistance around $2,396 on the 4-hour timeframe—if ETH can't hold above that level, it could easily slide back down to new weekly lows.
⬤ This matters for the whole crypto market since Ethereum often moves in sync with Bitcoin and influences overall sentiment. With the bearish structure still intact, downside risk stays high across digital assets. That said, a confirmed break above $2,396 on the 4-hour chart could flip things bullish and open the door for a bigger recovery.
Artem Voloskovets
