ETH bounced. Is the $2,200 floor real? 🧱
Everyone’s staring at the green $ETH candle today. I’m staring at what’s underneath it.
ETH is around $2,290, up roughly 2% after October knocked about 16% off it. Nice bounce. But US spot ETH funds just logged six straight days of outflows, and the most-traded options yesterday were all puts. Dip buyers are early, hedgers are nervous. That mix gets messy fast.
Here’s how I read it.
$2,300 is the first wall. A clean daily close above it, with real volume, brings $2,500 into view. Lose $2,200 and I’d expect the $2,000 area to get tested, because round numbers pull price like magnets.
Friday’s jobs report can wreck either plan. So I’m not forcing anything before it. Chasing a 2% bounce into a data release is the classic way to get chopped up, and I know the feeling.
My rule: no entry without the stop already decided. Level first, trade second.
Are you buying the $2,200 retest or waiting for the $2,300 reclaim?
Disclaimer
Personal view, not financial advice. Crypto is volatile, do your own research.
