Ethereum is currently moving through a consolidation phase after a clear rejection near the upper resistance zone. The price recently pushed toward 3,160–3,170 but failed to hold, signaling that sellers remain active at these higher levels.
Since the rejection, ETH has trended sideways with declining momentum. This lack of strength suggests market hesitation. As long as price remains capped below the 3,150–3,170 resistance, any upward moves are likely short-term bounces rather than a trend reversal. Current support is holding steady between 3,050–3,070, with thinning volume favoring range-bound movement.
$ETH Short Trade Plan 📉
Entry Strategy
Short Entry Zone: 3,140 – 3,170
Stop Loss: 3,220
Profit Targets
TP1: 3,080
TP2: 3,030
TP3: 2,980
Risk & Position Management
Leverage: 20x – 40x
Margin: 2% – 4%
Execution: Secure partial profits at TP1 and immediately move your stop loss to breakeven to protect your capital.
