【$ETH Signal】Hold Cash and Wait — Downtrend Continuation in Deep Imbalance

$ETH After breaking below the key psychological level of 2000, the price is consolidating weakly in the 1900-1950 range. The 4H chart shows sustained pressure below the EMA20 (2002), with each rebound met by selling pressure, forming a flag pattern in the downtrend.

🎯Direction: Hold Cash

Market depth is severely imbalanced (-5.64%), with sell orders (Asks) accumulating 18.9K ETH at 1940.49, far exceeding buy-side volume, indicating heavy selling pressure above. Although the funding rate is negative (-0.0025%), open interest (OI) remains stable, suggesting no short squeeze but rather passive defense by longs.

RSI (37.35) is in the weak zone but not oversold, ATR (52.8) indicates volatility remains high. The 4H buy/sell ratio hovers around 0.5, reflecting overall bearish market sentiment and lack of active buying. The price has failed to effectively reclaim the resistance zone at 1950-1960, viewed as a weak rebound.

The current structure is a downtrend continuation, with major players testing liquidity and distributing above key support at 1900. Any rebound before the price reclaims EMA20 and accumulates deep buy orders is a signal to reduce positions or stay on the sidelines. Awaiting clearer bottom structure or breakout signals.

Trade 👇 $ETH

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