ETH Wave Structure (1H)
Trend Judgment
After failing to hold above 2000,
a surge in volume led to a rapid decline,
bottoming out near 1844.
Currently trading within
1850 — 1870 range.
Overall:
A weak rebound phase after a trend reversal to bearish,
has transitioned from a consolidation pattern
into a predominantly bearish market.
Reasons:
1H structure broke below the previous support at 1900,
BOLL bands opening downward,
price consistently near the lower band,
all moving averages turning downward,
MACD showing increased volume in the deep water zone,
bearish momentum dominating,
rebound with n
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