【$ETH Signal】Short position + Downtrend continuation, waiting for a clear reversal signal

$ETH enters a downtrend continuation pattern after breaking below key support, with severe imbalance in market depth. Selling pressure persists but panic selling has not occurred.

🎯 Direction: Short

Market analysis: Price has broken below EMA20 (2055) and moved away from EMA50 (2162), confirming a medium-term bearish trend. On the 4H chart, it has closed below the previous low of 2049 for consecutive periods, indicating structural breakdown.

Core logic: Key to watch for bullish signals resonance. 1. Order book depth is severely imbalanced (-74.54%), with the sell wall (97 ETH at 2016.85) far thicker than buy orders, showing heavy selling pressure above. 2. Funding rate has turned negative (-0.0159%) but open interest remains stable, indicating not a short squeeze but a lack of bullish confidence. 3. RSI (42.97) has not entered oversold territory, leaving room for further decline. 4. Buy/Sell ratio remains below 0.5, indicating active selling dominance.

Trading plan: Current price (2016.7) is in a weak rebound zone but no clear bottom absorption or order flow reversal signals have appeared. The primary focus is on the buy response in the 1980-2000 range (previous low and psychological level). If a volume-increasing bullish candle engulfs and depth imbalance is repaired, consider a left-side long entry. Otherwise, continue to observe.

Trade here 👇 $ETH

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