Ethereum Is Up 30% But Shorts Refuse to Let Go – The Last Time This Setup Didn’t End Quietly
Ethereum has held above $2,250 as the market builds toward what feels like a decisive move in either direction. The recovery from the February lows has been real and sustained — but according to top analyst Darkfost, the participants who should be most convinced by it are doing the opposite of what conviction looks like. The recent structure is constructive but not yet bullish. Higher lows since mid-March indicate accumulation, yet each push toward the $2,350–$2,450 region has been rejected, forming a clear supply zone. This repeated failure suggests sellers remain active at higher levels, likely using rallies to distribute.Related Reading
Volume reinforces the hesitation. The recovery phase has not matched the intensity seen during the February selloff, implying that the current move lacks strong conviction. Buyers are present, but not aggressive enough to absorb overhead supply decisively.
From a structural standpoint, Ethereum is coiling. A clean break above $2,450 would shift momentum and open the path toward reclaiming the $2,700 region. Conversely, losing the $2,200–$2,250 support area would invalidate the higher-low structure and expose the market to a deeper retracement back toward $2,000 or lower.
Featured image from ChatGPT, chart from TradingView.com
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