Ethereum continues to respect the bearish regime on the 4h timeframe.
Current setup highlights:
• Structure: BEARISH (price below anchored VWAP, sloping down)
• Price rejected hard at Value Area High (~3,340–3,350) with multiple liquidity sweeps (red "x" markers) confirming distribution
• POC Distance: -0.48% → trading just below the control point, weak bullish defense
• In VA? YES → but failed to hold above midline/POC → classic "trapped longs" scenario
• Multiple absorption attempts (ABS labels) at the highs failed to produce follow-through → sellers still in control
• Clean bearish FVGs filled on the way down, now creating new inefficiency below 3,000
Key levels to watch:
Resistance: VA High ~3,340 → retest here would be high-probability short zone
Support: Red macro level ~2,964–2,975 (previous swing low + unfilled FVG base)
Next downside target: 2,850–2,900 if 2,964 breaks (previous HVN area)
Confluence:
- Negative swing delta
- Repeated liquidity grabs above structure
- No reclaim of AVWAP despite several attempts
Bias: Bearish continuation until price reclaims AVWAP or VA high with strong volume + positive delta flip.
Invalidation: Close above 3,400 on 4h with conviction volume.
Always manage risk – this is not financial advice.
What do you think – will ETH hold 2,964 or are we heading lower first? Drop your levels below 👇
