Hello everyone, Ethereum is seeing a mild recovery around the $1,660 area after the sharp sell-off earlier this month. However, looking at the H4 structure, the market has not yet shown a clear reversal signal, as price is still trading below both the EMA34 and EMA89.
What stands out is that the recovery from the $1,550 low has been relatively slow. Each time ETH approaches the EMA34 area, selling pressure appears and caps the move. This suggests that large capital flows have not truly returned to the buy side yet.
With Bitcoin still trading below key resistance zones and overall crypto market sentiment remaining cautious, ETH’s current rebound looks more like a technical correction than the beginning of a new bullish trend.
What stands out is that the recovery from the $1,550 low has been relatively slow. Each time ETH approaches the EMA34 area, selling pressure appears and caps the move. This suggests that large capital flows have not truly returned to the buy side yet.
With Bitcoin still trading below key resistance zones and overall crypto market sentiment remaining cautious, ETH’s current rebound looks more like a technical correction than the beginning of a new bullish trend.
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Disclaimer
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