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Something doesn't feel right with $ETH today.
We were looking so good when we pushed toward that 2,464 level, but this latest rejection is nasty. The price is sitting at 2,308 right now, and you can see on the daily that we’re struggling to find a solid floor.
The 2,260 to 2,280 area is the line in the sand. If we lose that, we’re probably heading back down to test the 2,140 zone where we’ve seen buyers step in before. Volume is pretty heavy at 358k ETH, so this move has some weight behind it.
Look at the order book. It’s almost entirely red on the sell side pressure. Unless some big buy orders show up fast, the path of least resistance looks like it's down for a bit.
I’m watching for a fakeout below 2,300 before I even think about a position. Be careful out there.
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