$ETH / USDT — Liquidity Sweeps, Distribution Structure
$ETH is currently trading near $1,967.99, down -2.57%, and recent upside wicks above the local range high are showing clear signs of liquidity sweeps rather than confirmed breakout attempts.
Each attempt to push higher is met with strong selling pressure, forcing price back below resistance and maintaining a capped structure under supply. This behavior reflects distribution at highs, not bullish expansion.
Unless ETH can establish strong acceptance above the $2,000–$2,020 resistance zone with sustained volume and follow-through, the probability favors a rotation lower toward key support levels.
Key Levels: • Resistance: $2,000 – $2,020
• Support 1: $1,920
• Support 2: $1,880
Trade Bias: SHORT (Range Rejection Scenario)
Entry Zone: $1,985 – $2,015
Targets:
• TP1: $1,920
• TP2: $1,880
• TP3: $1,820
Invalidation: Sustained close above $2,040 with strong volume expansion
Summary:
Range highs continue acting as a supply zone, and current price action suggests distribution and liquidity harvesting rather than genuine breakout strength. Until resistance is reclaimed with conviction, sell-side pressure remains dominant.
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