$ETH is currently trading in a technically sensitive area following the recent liquidation flush, making it a key zone to watch for possible reversal signals.
However, the bounce from last week’s low still appears corrective and lacks strong impulsive momentum. There’s no clear structural evidence yet to confirm that a durable bottom has formed. Unless price delivers a decisive five-wave advance or at least breaks above the weekend high, the orange downside scenario remains in play.
For now, confirmation is still missing. Keeping a close eye on the microstructure.