$ETH 🚨🚨🚨 Ethereum Analysis (ETHUSDT) - 1 Hour Time Frame ⏳⏰🔴‼️🚨#etherreum #ETHETFsApproved

ETH ⏳1-HOUR Chart Analysis🚨🚨🚨

Support and Resistance Overview:

* Current Price: $3,497.10

* Recent Trends:

* Trend on 50 Bars: Sideways with a -3° angle

* Trend on 100 Bars: Uptrend with a +14° angle

* Trend on 150 Bars: Sideways with a -4° angle

* Trend on 200 Bars: Downtrend with an -8° angle

Key Patterns Identified:

* Black Swan Pattern at point D

* Shark Pattern at point D

* AB=CD Pattern at point D

Technical Indicators:

* Downtrend Level: 3,649.26

* Trend Line (TL) Strength: 4.13 (Strong)

* Angle: 10°

* Distance: 4.33%

Analysis:

Ethereum is currently experiencing a strong downtrend with multiple bearish patterns such as the Black Swan, Shark, and AB=CD patterns forming at significant points. While shorter timeframes show sideways movement and an uptrend, the longer timeframe indicates a continuing downtrend.

Conclusion:

ETH faces a significant resistance level around $3,649.26 and the overall sentiment remains bearish on the longer timeframe. Traders should monitor key support levels and be aware of further pattern formations to guide their trading strategies.

Stay alert and manage risks wisely!

Note: Always conduct your own research and consider consulting with a financial advisor before making any trading decisions#altcoins #Alert🔴 #tradesafely $ETH