ETH is trading around $1,900 in the charts I’m looking at. Here’s what I’m watching before calling a bottom.
Both the daily and hourly structures remain bearish, with lower highs, lower lows, and price below the moving averages. A relief bounce is possible, but that alone wouldn’t confirm a reversal.
My key ETH/USDT zones:
• $1,860–1,890: nearby hourly support.
• $1,950–1,970: the first area I’d want to see reclaimed.
• $2,000–2,020: a more meaningful resistance zone.
• $2,090–2,100: the next resistance if the recovery continues.
For a bullish setup, I’d want an hourly close above $2,020, followed by a retest that holds $2,000–2,020 and a break above the retest candle’s high. That would strengthen the recovery case, although the daily downtrend would still need more work.
If $1,860 breaks and a retest from below fails, I’d remain cautious about further downside. The daily chart also shows a deeper support area around $1,500–1,630, but I’m not treating that as an immediate target.
The derivatives snapshot accompanying my chart shows 77.5% longs, +0.0039% funding, and a 0.97% increase in hourly open interest. Those figures are specific to that snapshot, not the entire market. Rising OI doesn’t establish direction, and a long/short ratio shouldn’t be confused with the share of capital on either side.
My view: there’s room for a bounce, but I don’t see a confirmed bottom yet. For a trade, I’d rather have a clear reclaim and invalidation level than buy purely because ETH has dropped.
What would confirm a reversal for you here: a support sweep and reclaim, or a recovery above $2,020?