ETH Analysis : Bearish Triangle in Low Timeframe
#ETH #ETHAnalysis #BearishTrend #Write2Earn
Current Trend : Ethereum (ETH) is showing a bearish triangle pattern in the low timeframe.
Breakdown Confirmed : ETH has failed to break above the upper trendline and has instead breached the support line.
Support and Resistance Levels :
Immediate Support : $3,300 (recently broken).
Next Support Levels : $3,265 and $3,000.
Resistance : $3,550 remains the key level to watch for any bullish recovery.
Price Projection : Bearish momentum suggests ETH could test $3,000 if selling pressure persists.
Chart Insights : The failure to maintain the ascending trendline aligns with continued bearish sentiment.
Pro Tip : Short positions may be favorable near resistance levels, with tight stop-losses to minimize risks.
Advice for Investors : Monitor $3,300 for a possible retest. Be cautious of volatility near $3,000, as it might act as a psychological support level.
Conclusion : ETH's bearish triangle breakout suggests a downward move toward $3,000. Stay vigilant for price action at critical levels to adjust strategies effectively.
"Trade wisely and always manage your risks." 🚀