ETHUSD Bearish Breakdown After Consolidation

[mendez]

Ethereum (ETHUSD) shows a clear shift from bullish momentum into bearish structure. After a strong impulsive move upward, price entered a consolidation phase inside a marked supply zone (orange box), where multiple rejections confirmed seller dominance.

The breakdown from this range was sharp and impulsive, signaling strong bearish intent. Price is now consolidating again in a lower range (green box), forming a weak base with no strong bullish recovery—indicating continuation potential to the downside.

The Ichimoku cloud also aligns with bearish bias, with price trading below the cloud and resistance forming above.

Target:

• Primary target: 2,120 zone (marked liquidity / support level)
• If momentum continues, price may sweep liquidity below this level before any reversal

Insight:
Lower highs + weak consolidation = high probability of further downside continuation.

[bonk]

support at 2,120 so it can wick below and ruin everyone’s plan

[ed]

love how every consolidation becomes either “accumulation” or “distribution” depending on what happens next