This Looks Like a Pause, Not a TopEthereum / TetherUS PERPETUAL CONTRACTBINANCE:ETHUSDT.PGfritschgMarket Structure ETH is still printing higher highs and higher lows on the 4H timeframe. The last impulsive move broke a well-defined range and shifted market structure clearly to the upside. Current Price Action What we’re seeing now is not weakness, but compression below resistance. Price is holding above the prior breakout area, which is typical behavior during a bullish continuation phase. Key Levels Resistance: 3,320 – 3,350 Demand / Support: 3,150 – 3,200 [*]Structure invalidation: 4H close below 3,080 What Would Change the Bias As long as ETH holds above demand, this move should be read as a pullback or consolidation, not distribution. A clean break below 3,080 would be the first real signal that momentum is failing. Conclusion Until proven otherwise, this structure suggests acceptance at higher prices and preparation for another expansion leg — not a market top.