$ETH - I don’t like the short-term structure here, as price has broken below the 1D Bull Market Support Band, which has been a strong reversal area over the last couple of months.


That said, this could still be a short-term deviation, and price may reclaim the range quickly.
In any case, if this turns into a confirmed breakdown, I would expect a bullish backtest of the prior high-timeframe resistance range marked in purple, sitting around $2.15K, where I would look to add to my spot position before a more durable move to the upside.
As long as price holds above that range, the most likely outcome still remains further upside.
ETH2.33%
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