Ethereum There are signs of strength, but a bullish image only appears on an inverted chart. The standard view is that the downtrend will remain intact until key resistance levels recover, making current optimism conditional.
Reversed Structure Supports Ethereum’s Bearish HTF Outlook
Show inverted chart on recent charts updateMizer explained that Ethereum has been in short supply for several days and outlined what he thinks will happen with Ethereum. higher time frame (HTF). Mizer clarified that this does not necessarily mean he plans to hold a full position against his own forecast target, as he prefers to focus on lower time frame (LTF) opportunities, given the difficulty of predicting HTF movements in the current macro environment.
According to Mizer, Ethereum’s HTF structure remains clear. It is a distribution stage followed by a consistent structure. breakdown Since the peak of $5000. The parabola formed from that peak is a key indicator of this pattern, and we can see that price has been respecting it for months. The broader downtrend will remain in place until that parabola definitively breaks and price sustains above it.
Mr. Mizer focused on the current price trend and highlighted a strong impulse move towards this zone marked by the purple line. This area represents a significant support/resistance reversal on the reversal chart. It used to be a resistance, but it has broken down and is now acting as a resistance. support. Mr. Miser is currently looking closely at the small blue box on the right side of the chart. This represents the current price movement after the impulse.
Two scenarios with integration
The analyst further explained that there are two main scenarios evolving from the current consolidation zone. A continuation after a shallow drop or a short false breakdown followed by a quick recovery before the next higher leg of the reversal chart could lead to further declines. $ETH itself.
He described the purple path on the chart as an “ideal” bullish scenario in a reversal structure, essentially following the price as it continues to respect the long-standing parabola. As long as that parabola remains intact, a broader bearish trajectory remains his base case.
Regarding goals, he divided his expectations into short-term and long-term goals. The immediate target is around $1,700, which he sees as the first logical area to book profits and monitor for a potential reaction strong enough to challenge or even break out of the parabola. resistance.
The final target is around $1,400, which represents a larger extension. momentum Fully functional. However, we emphasized that the setup will be disabled if: $ETH You lose the key flip zone and start accepting the bottom of it on the reversal chart. This is a move that could break the parabola and signal a broader trend reversal.
Featured image from Freepik, chart from Tradingview.com
