#MyWeekendTradingPlan

$ETH ‌ Weekly Update
Ethereum is trading around $2,600 after a clean rejection from the 1W 50 EMA. As mentioned earlier, this level was expected to act as strong resistance, and price reacted exactly as anticipated. I added more short exposure on the rejection, as this was not a reclaim attempt but a confirmed failure.
On the weekly timeframe, there is no structure supporting a sustained recovery. The market continues to print lower highs and lower closes, keeping the higher timeframe trend firmly bearish. More importantly, price is now pressuring the 1W 99 EMA (red line). If this weekly candle closes below that level, it signals further downside continuation.
If the 1W 99 EMA is lost on a weekly close, the next major downside objective becomes $2,200.
Downside targets remain valid:
First target: $2,200
Second target: $1,900–$2,000
Max pain zone: $1,600–$1,700 (prior demand and range low)
Until ETH reclaims the 1W 50 EMA and builds acceptance above it for multiple weekly closes, every bounce should be treated as liquidity relief, not trend reversal. Momentum, structure, and moving averages continue to favor sellers.
Bears remain in control on the higher timeframe.
$ETH
‍#CryptoMarketPullback #MiddleEastTensionsEscalate #CryptoRegulationNewProgress