Ethereum’s latest rebound has not yet convinced all analysts that the downtrend is over. A June 20 TradingView idea from TheSignalyst argued that ETH remains bearish after continuing to trade below a falling red trendline and printing a sequence of lower highs and lower lows.
The analyst’s chart shows ETH rejecting a confluence area made up of the falling trendline and a horizontal structure zone. That matters because confluence resistance can attract sellers more aggressively than a single isolated level. When price fails at both diagonal and structural resistance, traders often treat the move as confirmation that bears are still defending control.
Support Zone Still Defines The Downside Risk
The important support area, according to the idea, sits between $1,350 and $1,500. That gives traders a clear zone to watch if the rejection continues. A controlled pullback into that range could produce another reaction, but a decisive break below it would make the broader ETH structure look much weaker.
For now, ETH is caught between a support zone that has mattered before and a falling trendline that keeps capping rebounds. Until one of those areas gives way, the market remains technically compressed.
Why This Setup Matters Beyond ETH
Ethereum’s chart also matters for the wider altcoin market. When ETH struggles against the dollar, risk appetite across DeFi and smaller-cap crypto assets often weakens with it. That does not mean every altcoin follows ETH tick-for-tick, but Ethereum remains the benchmark for much of the smart-contract market.
TheSignalyst’s setup is therefore a warning that the recent rebound still has work to do. Bulls need a clean break above resistance before the market can talk seriously about a stronger reversal.
This report is based on information from TradingView TheSignalyst.
This article was written by the News Desk and edited by Samuel Rae.
