【$ETH Signal】1H Oversold Rebound Play, Watch for Key Resistance Breakout

$ETH The 1H timeframe has entered a narrow consolidation after a sharp decline, with RSI(1H) at 32.37 in oversold territory, indicating a technical rebound demand. Although the 4H timeframe remains in a downtrend, the latest 4H candle closed with a long lower shadow, showing buying support around 1930. Open interest(OI) remains stable and has not sharply decreased with the price drop, suggesting that major players may not have fully exited. The negative funding rate(-0.0071%) also hints at a slight short squeeze expectation. Currently, the price is below the 1H EMA20(1992), indicating a weak rebound that requires a volume breakout to confirm a short-term bullish reversal.
🎯Direction: Wait and see(Pending Orders)
⚡Order Strategy:
1. 【Breakout Long】Price > 1993.00 (Reason: Successfully breaking above the 1H EMA20 resistance confirms rebound momentum)
2. 【Pullback Entry】Price < 1940.00 (Reason: Retracement to the previous 4H lower shadow support zone)
🛑Stop Loss: 1915.00 (Reason: Falling below the previous 4H candle low invalidates the rebound structure)
🚀Target 1: 2030.00 (Reason: Resistance at the previous small platform on the 4H timeframe)
🚀Target 2: 2080.00 (Reason: Confluence resistance zone at the 4H EMA50 and previous high)
🛡Trade Management:
- Position Size: Light (Reason: The 4H trend is still downward; this is a counter-trend rebound play with higher risk)
- Execution Strategy: If entry is triggered, reduce position by 50% at Target 1, and move stop loss to entry price. The remaining position aims for Target 2. If the price cannot hold above 1993, abandon the trade.
Order book depth shows sell orders at (1961.58) totaling 84.65 ETH, creating short-term resistance, while buy orders are relatively dispersed. The 1H RSI shows early signs of divergence at the bottom, but confirmation requires a price breakout. Key is whether volume can absorb the sell pressure above 1961.58 and stabilize above the EMA20 at 1992. Success will attract short covering and long follow-through.
Trade here 👇 $ETH
---
Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL