This Ethereum (ETH/USD) 1-hour chart showcases a bearish market structure with a series of lower highs and lower lows after breaking below a key resistance zone. A bearish pennant pattern has formed, signaling a potential continuation of the downward trend.
Breakdown Confirmation: The price broke below a key trendline, signaling bearish momentum.
Supply Zone: Price is struggling to break higher, indicating strong selling pressure.
Range Formation: A period of consolidation suggests potential for further downside.
Demand Zone & Targets: The demand zone below acts as potential support, with TP1 at 1850 and a final target at 1825 if bearish momentum continues.
Traders should watch for a breakout from the current range—either a bearish continuation toward 1825 or a potential reversal if demand strengthens.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
Breakdown Confirmation: The price broke below a key trendline, signaling bearish momentum.
Supply Zone: Price is struggling to break higher, indicating strong selling pressure.
Range Formation: A period of consolidation suggests potential for further downside.
Demand Zone & Targets: The demand zone below acts as potential support, with TP1 at 1850 and a final target at 1825 if bearish momentum continues.
Traders should watch for a breakout from the current range—either a bearish continuation toward 1825 or a potential reversal if demand strengthens.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
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