ETH · 1H · SIDEWAYS
Price has been grinding in a range between roughly 1,840 and 1,960 since mid-July, printing a series of lower highs off the 1,960 swing top while support around 1,840–1,860 keeps getting tested and holding. Right now price is sitting at 1,886 — mid-range, with no clean directional conviction. The macro context aligns with what I'm seeing technically: the news is flagging TBO resistance in a setup reminiscent of April/May, calling it an ideal short setup but premature — and that's exactly my read. I'm not chasing short from here mid-range, and I'm not long into a lower-high structure. I'm waiting for price to reach a structural decision point before committing.
SHORT (CONDITIONAL) SCENARIO
Confirmation
1,940
Rejection at 1,940–1,960 resistance zone with a close back below 1,920 confirms bearish structure — that would be a clear lower high print within the established range, and it mirrors the April/May TBO resistance dynamic the news is flagging.
Invalidation
1,965
Structure negated on a clean close above 1,965.
Target 1
1,860
The mid-range support shelf price has leaned on repeatedly.
Target 2
1,800
The broader structural support from the early-July base.
Risk/Reward
(1,940 − 1,860) / (1,965 − 1,940) = 3.2:1
LONG (CONDITIONAL) SCENARIO
Confirmation
1,840
Holding 1,840 support with a close back above 1,880 confirms bullish structure holding the lower range boundary.
Invalidation
1,820
Structure negated on a close below 1,820.
Target 1
1,940
Upper range resistance.
Target 2
1,960
Swing high resistance.
Risk/Reward
(1,940 − 1,880) / (1,880 − 1,820) = 1.0:1
Resistance: 1,940 / 1,960
Support: 1,860 / 1,840
This is not financial advice. Content is AI-generated.