Ethereum is back in a level-by-level technical fight after a TradingView analyst mapped out a short-biased setup that puts the market’s attention on whether ETH can hold near equilibrium or slide toward a deeper demand zone.
TL;DR TradingView analyst Champ_of_Gold says ETH has reacted from an institutional supply area. The setup highlights $1,718.5 as an immediate reaction level. The analyst’s deeper demand target sits around $1,562.7 down to the $1,500 psychological zone. ETH was trading around $1,765 at the time of writing, leaving the setup close enough to matter for short-term traders. ETH Price Setup Turns On The $1,718 AreaThat does not mean the move is guaranteed. It does, however, give traders a clear map: if ETH holds above the reaction zone, the bearish continuation idea loses urgency. If price breaks below it, the chart shifts toward the lower target zone where buyers may look for a stronger response.
Demand Zone Becomes The Main Watch AreaThe projected downside destination in the TradingView post sits around $1,562.7 to $1,500. That band is important because it combines a previous demand area with a large psychological level. In market-analysis terms, these zones often become places where traders expect either a reaction or a continuation failure.
Current market data shows ETH trading near $1,765, with the asset up on the day after an intraday low near $1,704. That means ETH has not yet confirmed the deeper breakdown described in the setup, but the distance between spot price and the key invalidation/reaction levels is narrow enough to keep the chart relevant.
What Would Invalidate The Bearish Read?The analyst places invalidation above the supply-zone high. In plain English, ETH needs to reclaim and hold above the zone that sellers are expected to defend. A move like that would challenge the short-biased interpretation and could force traders to reassess whether the current pullback is just a reset before another attempt higher.
For now, the setup leaves ETH traders watching two things: whether the $1,718 area gives way, and whether any move lower draws a meaningful bid before the $1,500 region comes into play.
