ETH: Liquidity Sweep Below Lows Eyes Bounce

Michaël van de Poppe flagged a decisive liquidity sweep on $ETH beneath all recent lows, noting that such moves often precede sharp bounces and raising the key question of whether price is forming a local bottom.

Price currently sits at $2362.06, inside the Bollinger Bands with the lower support at $2341.6 and upper resistance at $2596.76. The structure remains bearish as price trades below both the EMA50 at $2507.3 and EMA200 at $2557.63, while RSI(14) at 29.32 shows oversold conditions and MACD(12,26) at -41.52 confirms the death cross. With price testing the lower Bollinger Band while RSI flashes oversold, a relief bounce toward the EMA50 resistance at $2507.3 appears probable before any sustained move higher, aligning with the potential retest of $2,425 that would reopen the bullish case.