【$ETH Signal】Short Position + Downtrend Continuation Pattern

$ETH Presents a downtrend continuation pattern on the 4H timeframe. The price experienced a volume-driven decline within the $2253-$2061 range, followed by a weak rebound amid persistent selling pressure. Funding rates have turned negative, indicating market sentiment is bearish. Currently, the price is consolidating around $2132 with narrow fluctuations. Strong resistance zones are at $2173-$2195, where rebounds are weak. This is a typical weak consolidation during a downtrend.

🎯 Direction: No Position (NoPosition)

Price action shows bearish dominance, with 4H candles closing below previous lows, and rebound highs gradually decreasing. Order book depth indicates sell orders stacking above $2132 (60 ETH), with weak buy support. The decline is accompanied by increasing open interest, combined with negative funding rates, suggesting active short openings and passive long liquidations. The current pattern lacks clear bottom formation or strong buy signals, so counter-trend trading is not recommended. Wait for a confirmed breakout and stabilization above $2200 (former resistance turning into support) or the formation of a higher-level bottom structure (such as a double bottom or head and shoulders bottom) before considering long entries.

Trade here: 👇 $ETH

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#Is the current market bottoming or just observing?