#ETHUSDT: Pullback to $1,630 Before Expansion Toward $2,592? 
Ethereum has recovered strongly from its discounted buying zone but the daily chart now shows price consolidating beneath significant seller resistance around $1,940–$1,960.
Market Structure The previous premium zone around $2,360–$2,400 produced strong selling volume multiple pin-bar rejections and a bearish break of structure. This triggered an aggressive decline into the $1,520–$1,600 demand region. Price reacted strongly from this discounted zone forming a bullish change of character and followed it with multiple bullish breaks of structure. This confirms improving medium-term momentum. However, the latest recovery has stalled beneath a seller-controlled resistance area. The repeated rejection wicks suggest that price may first seek lower liquidity before continuing higher.
Trade Scenario • Preferred entry zone: $1,630.01 • Invalidation/exit zone: $1,495.09 • First target: $2,156.87 • Final target: $2,592.14 Rather than chasing price near current resistance the preferred scenario is a retracement towards $1,630. This level offers a more attractive discounted entry near the previous demand structure. Bullish confirmation such as a strong rejection liquidity sweep or lower-timeframe change of character should be observed before entering.
Risk-to-Reward • Target 1: approximately 1:3.9 • Target 2: approximately 1:7.1
Alternative Scenario If ETH breaks and holds above $1,960 before reaching the entry zone, the price could move directly towards $2,156. In that case, the pullback setup may not trigger and should be reassessed. A confirmed daily close below $1,495 would invalidate the bullish outlook and signal the possibility of a deeper correction.
Overall, the bias is short-term corrective with a medium-term bullish outlook. Patience is essential as the objective is to enter from value rather than chasing price beneath resistance. Do you expect ETH to revisit $1,630 before its next major expansion?
