ETHUSDT: Shorts Still in Control

[nihalsari]

Looking at the ETHUSDT chart, I find it pretty fascinating.

The price has been moving within a well-defined descending channel, forming a consistent series of lower highs and lower lows while respecting both boundaries almost perfectly.

Right now, price is pressing against the upper edge of the channel, and this is where things get interesting. Sellers have stepped in from this zone multiple times before, and the current structure suggests that another rejection might be just around the corner.

If that rejection happens, the short setup becomes clear. Price could move down toward the midline of the channel, with a potential target near 3,275.

Keep in mind that in a structure like this, trading with the trend gives you a higher probability of success than trying to fight it. Until this channel breaks decisively to the upside, sellers remain in control.

Do you agree? Drop your thoughts in the comments. Joining the TradingView community is one of the best ways to sharpen and grow your trading skills.

This isn’t financial advice, just my personal view on the chart. Trade safe!

[Rimon Khan]

ETH struggling to reclaim key zones — bears not done yet.

[EmTeam]

Until it closes above $3K with volume, shorts keep the upper hand. ️