$ETH Analysis - 15-Minute Chart
đŽ Bearish Momentum Building đŽ
Ethereum (ETH) is showing significant bearish pressure on the 15-minute chart with the following key observations:
Descending Trendline:
$ETH is trading below a clear descending trendline, with multiple rejections showing a solid resistance at higher levels.A potential breakdown to lower levels could be expected if price sustains below the trendline.
Kumo Cloud Break:
The price has decisively broken below the Ichimoku Kumo Cloud (Red), signaling a potential strong downtrend.The red zone indicates resistance, making a recovery unlikely without a major shift in sentiment.
MACD Bearish Divergence:
The MACD line has crossed below the signal line, reinforcing a bearish momentum. The increasing negative histogram bars suggest strong downward momentum, with the MACD still diverging further from the signal line.
đĄ Important Levels to Watch:
Support: $2,630 (critical zone)Resistance: $2,700 (trendline and Kumo Cloud upper boundary)
đ $ETH Short Trade Setup :
Sell Entry: Below $2,670Target 1: $2,630Target 2: $2,600Stop-loss: Above $2,700
â ïž Risk Management:
Ensure proper stop-loss management, as price could test the trendline again. Watch for volume confirmation for stronger conviction in this trade.
Market Sentiment:
Bearish in the short term, with increasing selling pressure and technical indicators aligned to a potential drop.
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