🚨 ETH HUGE DUMP ALERT 🚨
Coin Name: #Ethereum
Signal Type: SHORT
I’ve spotted a significant Head & Shoulders (H&S) pattern on the 12-hour timeframe, which is a strong bearish signal. If ETH breaks its key support line, we could see a sharp drop. This is a crucial setup, and it could lead to a big move to the downside.
📉 STOCH RSI Insight:
In the STOCH RSI, there’s a clear cross to the downside, indicating that ETH is bearish from a mid-term perspective. This further confirms my short bias on Ethereum.
USDT Dominance Analysis:
USDT dominance is looking bullish right now. As you can see from my screenshots, USDT dominance has broken out of its falling wedge resistance line and is holding strong in a channel on higher timeframes. I expect USDT dominance to rise and retest its upper resistance. Remember, when USDT dominance is bullish, BTC and altcoins (like ETH) typically move bearish due to the negative correlation.
📊 Key Support Level:
The 2130 level is a critical support for ETH. If this support breaks, ETH could dump even further. The H&S pattern’s technical target is around $1930, which would be a substantial drop.
🔍 Current ETH Price: $2405
🎯 My Short Target: $2150
📈 Take Profit Targets:
1️⃣ TP1: $2200
2️⃣ TP2: $2050
3️⃣ TP3: $1930 (H&S pattern target)
This setup presents a high-probability trade, and it’s crucial to act fast before the dump happens. Keep an eye on my live streams for real-time updates and insights!
#moonbix #BTC60KResistance #SCRPricePrediction #SCRPricePrediction #USCoreCPIUp