4H ETH/USDT

180
📊 Context
Short-term trend: downward / consolidation under resistance
Structure: lower highs → classic supply pressure
You have a downward trendline drawn and it's working correctly
🔑 Key levels
🟢 Resistance:
2312 – current local struggle zone
2341 – mid-range / often reacts
2387 – main resistance (recent rejections)
🔴 Support:
2247
2218 – 2209 (important demand zone)
2159 (if everything lets up – next target)
📉 What just happened?

Strong upside breakout → rejection on the trendline
Quick dump → failure to maintain bullish structure
Currently: pullback after a downward impulse

This looks like:
👉 Fake breakout + continuation of the downtrend

📊 Indicators
Stoch RSI:
Coming off overbought → Downward momentum
Not yet at an extreme low → room for further decline
MACD:
Red histogram
MACD line reversing down
👉 Bearish signal
🧠 Scenarios
🔴 Scenario 1 (more likely):

Continuation of downtrend

Rejection from 2312–2320 → drop to:
2247
then 2210

👉 If 2210 breaks → quick move to 2160

🟢 Scenario 2:

False dump + bounce
Condition:

Return above 2312
Retest as support

Then:

Target: 2341 → 2387
But until it breaks the trendline → it's just a bounce.
⚠️ The most important thing:

As long as the price is below the downtrend line:
👉 you're shorting/selling the rally

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.