ETH — Resistance Confluence & The Bull Trap Risk 📉

Ethereum is trading at a critical inflection point. Multiple technical factors are aligning to form a heavy ceiling, and the bulls are clearly struggling to punch through.

The Tape Reading:

The "Concrete" Wall: The $2,227 level is acting as a major rejection zone. We have a powerful confluence here: the 0.618 Fibonacci retracement + VWAP resistance.

The Trap: We saw a deviation above the range highs followed by a sharp rejection. This is a textbook Bull Trap scenario—retail was lured in, and now the market is looking to flush them out.

Downside Magnet: As long as price remains below $2,227, sellers are in the driver's seat. The primary target for this correction is the key support at $1,580.

ETH looks vulnerable. Any short-term relief rallies are likely to face heavy selling pressure unless we get a clean reclaim of $2,227. The path toward $1,580 is the high-probability play here, as that’s the first major area where real demand might step back in. Keep it cold-minded and watch the levels.

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