ETH: The Structure Remains Bearish

As of now, the overall market structure for Ethereum still appears bearish.

Here's what I'm watching:

From the NY Open, I think there's a high possibility of a quick liquidity grab to the upside followed by a correction downward.

However, this sweep may not even happen. It will largely depend on geopolitical developments, particularly the Iran-Israel conflict, which remains a major market-moving factor.

I don’t know what kind of news could trigger this, but judging by the chart, there’s absolutely nothing bullish for now and honestly, it might even get uglier than it already was between Iran-Israel.

What’s below? A lot of liquidity.

On the chart, I’ve highlighted key downside targets:

Previous Day Low (PDL)

Previous Week Low (PWL)

One Day Fair Value Gap (1D FVG)

My personal expectation: a delivery of price into the 0.705 Fibonacci zone of the recent impulse.

This area also includes the Point of Control (POC) and completes the 1D FVG fill.

That’s where I’ll be looking for a potential bullish reversal.

Outlook for July

I'm still hopeful that the market tone shifts bullish in July.

Why? I expect a wave of positive narratives:

Trump’s proposed tariff adjustments

Multiple ETF approvals (especially altcoin-related)

Retail attention coming back

The setup is forming but for now, ETH remains under bearish pressure.

Stay tuned. Take care. More to come.