ETH/USD Rejection at Supply Zone – Bearish Move LoadingETH/USD is currently showing a potential short opportunity after rejecting the key supply zone around $2,640 – $2,645, a level that previously acted as strong resistance.
🔍 Key Observations:
Price tapped into a visible Supply Zone (highlighted in blue) and is now consolidating below it.
Strong resistance is confirmed by repeated rejections at $2,640.
A clean support level lies at $2,576, which could act as the first target if sellers take control.
Below $2,576, watch out for a potential drop toward the demand zone around $2,508 – $2,500, a level where bulls previously stepped in aggressively.
📉 Bearish Scenario: If ETH breaks below $2,576 with volume, expect momentum to build toward the $2,508 demand area. A break below $2,500 could open the door for further downside.
📌 Trade Idea:
Entry: Below $2,576 on strong bearish candle
TP1: $2,508
TP2: $2,500
SL: Above $2,645
🚨 Note: Confirmation is key. Watch for bearish candlestick formations or volume spikes before entering short.
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