ETHUSD (1H): Forecast Remains BearishEthereum / U.S. dollarBITSTAMP:ETHUSDKap_WavesEthereum is currently transitioning into a corrective phase after completing a local impulsive structure to the upside. The recent rejection from the highs suggests weakening bullish momentum, with price now showing early signs of distribution on the lower timeframe. The current structure appears corrective rather than impulsive, indicating that the market may be preparing for the next directional move. Price action is compressing below a key resistance zone, which increases the likelihood of a continuation lower if buyers fail to regain control. At this stage, two primary scenarios are unfolding: Price may retrace into the 2,200–2,300 resistance zone, aligning with the 0.5–0.786 Fibonacci retracement levels, before facing rejection and continuing lower. Alternatively, price may continue declining from current levels, signaling sustained selling pressure and confirming bearish intent. The highlighted resistance zone remains the key area to monitor. It represents a confluence of prior structure and Fibonacci levels, making it a high-probability reaction zone. A rejection from this region would reinforce the bearish outlook and support the development of a stronger impulsive move to the downside. On the downside, the current support around the 2,050 region acts as an immediate level of interest. A decisive break below this level would likely confirm bearish continuation and open the path toward lower targets, with the 1,750 region aligning with a potential 1.618 extension. From a broader perspective, Ethereum may also be influenced by external factors this week. Macroeconomic data, shifts in overall crypto market sentiment, and Bitcoin’s directional movement remain key drivers. Additionally, ecosystem-specific developments, such as network activity or institutional flows, could contribute to volatility. As long as price remains below the key resistance zone around 2,300, the overall structure continues to favor the bearish case.