ETHUSDT — Breakdown Retest Setup
ETHUSDT is trading at $1,951.29, attempting a minor bounce after hitting the 24h low of $1,901.22. Price is retesting the $1,960–$2,000 breakdown zone, which previously acted as support and now serves as resistance. The bounce appears weak with low volume, suggesting selling pressure remains.
Trade Plan
👉 Entry (Short): $1,960–$1,980 (On retest of breakdown resistance)
💥 Target 1: $1,910–$1,900 (24h low retest)
🚀 Target 2: $1,850–$1,820 (Next major support zone)
🤕 Stop Loss: $2,010 (Above breakdown resistance and recent high)
My View
ETH is in a strong downtrend with no signs of reversal. The current bounce is likely a dead cat bounce within the bearish structure. Higher probability trade is SHORT on retest of the $1,960–$1,980 resistance zone for continuation toward $1,900 and lower. Wait for bearish rejection candles near entry zone. No long setup until a clear higher low formation and structure change.
