Hey Realistic Traders, let's dive into the technical analysis of 
ETHUSDT
In the H4 timeframe, the price stubbornly stays below the EMA100, reinforcing the strong bearish trend we've been watching. A rising wedge pattern had formed, but recently, the price took a dive, breaking out of that pattern with high trading volume—never a good sign for the bulls. Adding fuel to the fire, the MACD has made a bearish crossover, with the MACD line slipping below the signal line, signaling that the downward momentum is picking up steam.
With all these technical indicators lining up, we’re eyeing a potential continuation of this downward journey toward Target Area 1 at 2,252.90 or even Target Area 2 at 2,073.77. However, bulls might find some hope if the price manages to break above the resistance level at 2,855.96.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Ethereum.
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
In the H4 timeframe, the price stubbornly stays below the EMA100, reinforcing the strong bearish trend we've been watching. A rising wedge pattern had formed, but recently, the price took a dive, breaking out of that pattern with high trading volume—never a good sign for the bulls. Adding fuel to the fire, the MACD has made a bearish crossover, with the MACD line slipping below the signal line, signaling that the downward momentum is picking up steam.
With all these technical indicators lining up, we’re eyeing a potential continuation of this downward journey toward Target Area 1 at 2,252.90 or even Target Area 2 at 2,073.77. However, bulls might find some hope if the price manages to break above the resistance level at 2,855.96.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Ethereum.
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.