Technical analysis by Mr_TraderLive about Symbol ETH: Sell recommendation (5/9/2025)

Ethereum (ETH/USD) has shown a strong bullish rally recently but is now facing significant resistance within the supply zone between $2,298 and $2,390. The price has shown rejection and consolidation in this area, suggesting a potential bearish reversal.Key Observations:Price entered a well-defined supply zone and faced immediate rejection with wicks.Consolidation after a sharp move up indicates weakening bullish momentum.A breakdown below this zone could confirm the start of a bearish leg.Entry:Consider shorting ETH if it breaks below $2,290 with strong bearish confirmation.Targets (Take-Profit Levels):TP1: $2,158TP2: $1,980TP3: $1,786Stop-Loss:Place SL above the supply zone at $2,393Risk-to-Reward Ratio:Approximately 1:3, offering a favorable setup for short-term traders.