Hey Ethereum traders! Let’s dive into this 1-hour ETH/USDT chart.
I didn’t manage to post in time, and ETH has made its move — unfortunately, it’s not the one we hoped for!
We had a classic triangle forming, with ETH consolidating between converging trendlines. The price was sitting around $1,803.65, teasing the daily high resistance at $1,842.89. I thought about a potential breakout toward the weekly high of $1,864.20, but instead, ETH broke below the triangle’s support line!
Now that the breakdown has happened, we’re likely heading toward the weekly low at $1,754.28, or even the breakdown target of $1,691.30.
Key Levels to Watch:
Resistance: $1,842.89 (daily high), $1,864.20 (weekly high)
Support: $1,780.47 (daily low), $1,754.28 (weekly low)
Breakdown Target: $1,691.30
The bears have taken control for now — where do you think ETH is headed next? Let’s discuss below!
I didn’t manage to post in time, and ETH has made its move — unfortunately, it’s not the one we hoped for!
We had a classic triangle forming, with ETH consolidating between converging trendlines. The price was sitting around $1,803.65, teasing the daily high resistance at $1,842.89. I thought about a potential breakout toward the weekly high of $1,864.20, but instead, ETH broke below the triangle’s support line!
Now that the breakdown has happened, we’re likely heading toward the weekly low at $1,754.28, or even the breakdown target of $1,691.30.
Key Levels to Watch:
Resistance: $1,842.89 (daily high), $1,864.20 (weekly high)
Support: $1,780.47 (daily low), $1,754.28 (weekly low)
Breakdown Target: $1,691.30
The bears have taken control for now — where do you think ETH is headed next? Let’s discuss below!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.