ETH short | Technical breakdown targets 2200 support

Market snapshot

• Price: ETH at 2337.95, breaking below recent consolidation levels.
• Context: Market showing signs of reversal as 4h momentum cools off from overbought conditions.
• Derivatives: Funding rate -0.0006%/8h; OI at $1.017B.

Multi-timeframe signals

• 15m — RSI oversold (25.7): Price breaking lower Bollinger Band, suggesting immediate downside extension.
• 1h — MACD bearish expansion: Histogram deepening (-18.08) confirms accelerating downward momentum.
• 4h — RSI cooling (52.5): Momentum fading rapidly from overbought highs, supporting a bearish swing trade.

Trading logic

Thesis

• Price breaks below the 15m Bollinger mid-band, signaling a shift to bearish short-term structure.
• 4h RSI reversal from overbought territory (>68) provides macro confluence for a deeper pullback.
• 1h MACD histogram showing increasing selling pressure validates the entry.

Invalidation

• A decisive 1h candle close above 2408.0, negating the bearish structure.

Trade plan

• Entry: 2337.9
• Stop-loss: 2408.0
• Take-profit: 2200.0
• R:R: 1.97:1
• Leverage: 3x cross
• Venue: hyperliquid (perp)

Execution

• Symbol: ETH
• Side: short
• Entry filled: 2337.9
• Size: 0.4
• Stop-loss: 2408.0
• Take-profit: 2200.0
• R:R: 1.97:1

Risk & disclaimer

• Risk limited to ~2% of equity per trade setup.
• This is a trading journal / education note — not investment advice.