【$ETH Signal】No Position + Weak Consolidation in a Downtrend

$ETH Weak consolidation below EMA20 (2047), showing a bearish continuation pattern on the 4H timeframe. Although the price temporarily paused around the 2000 level, buying strength is weak, with an imbalance of -13.92% and sparse buy orders, indicating institutions have no intention of actively defending this level.

🎯 Direction: No Position

Market Analysis: The price has broken below all key support levels on the daily chart, falling from above 3300 down to around 2000, clearly in a bearish trend. The current 4H chart shows each rebound being suppressed by EMA20, with decreasing volume during rebounds and increasing volume during declines, a typical bearish dominance structure.

Core Logic: Although the funding rate is negative (-0.0122%), open interest (OI) remains stable without signs of short squeeze-driven increases caused by negative rates. RSI (42.17) is in a weak zone but not oversold, leaving room for further decline. The key point is that order book depth shows ask orders accumulating over 20 ETH of sell pressure between 2009-2009.09, while bid orders below are thin, with low liquidity, making the price vulnerable to being broken through.

Trading Plan: The current price is above the key psychological level of 2000 but lacks effective bottom reversal signals (such as volume-spiking bullish engulfing candles, significant OI increase, or thickening buy orders). Be patient and wait for two scenarios: 1. A volume-supported break below the 1990 previous low, confirming continued decline, then consider shorting on the right side. 2. Strong buying absorption, with volume pushing the price above EMA20 (2047) accompanied by rising OI, indicating a potential trend reversal. Currently, the probability of success is low, so stick to risk management—stay out of the market and wait.

Trade here 👇 $ETH

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