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📉 Coin Name: #ETHUSDT
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In the 4-hour time frame, Ethereum (ETH) is exhibiting the formation of a rising wedge pattern, characterized by converging trend lines sloping upwards. This pattern typically indicates a potential reversal in the current uptrend. Furthermore, the breakout of the resistance line within this rising wedge formation suggests a bearish outlook for Ethereum. This breakout signifies increased selling pressure overcoming buying momentum, indicating a shift towards a downward trend in the near term. Therefore, based on the technical analysis of the rising wedge pattern and the breakout of the resistance line, Ethereum is anticipated to experience bearish price action.
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