#ETHMarketWatch HI TRADERS THIS IS MY SHORT TRADE SCENARIO PLS WATC THE MARKET CARFUL #Write2Earn
Chart Context (ETH/USD on 1D timeframe)
Current Price: ~$2,683
Major Trend Lines: The chart shows ETH moving within a large broadening wedge pattern with both upper and lower boundaries drawn in blue.
Highlighted Zone: A horizontal green box marks a key resistance zone around the $2,900–$3,000 level.
Yellow Forecast Path: The yellow line implies a bearish outlook, suggesting ETH will:
Reach resistance (~$2,900–$3,000),
Fail to break out,
Begin a long-term decline potentially toward the $600–$800 range by mid-to-late 2026.
Key Technical Observations
Resistance Rejection Zone:
The green zone represents a historically significant supply area (price has reversed here multiple times).
The price is currently testing this zone again, which aligns with previous highs.
Bearish Projection:
The drawn yellow path suggests a retest and rejection scenario.
The projected price movement shows ETH potentially breaking down below mid-channel support and heading toward macro-lows (~$600).
Channel Analysis:
ETH has been oscillating within a broad channel.
The lower boundary acts as long-term support (~$600).
A breakdown from the mid-level (which it’s testing now) could accelerate a downward move.
W/R Label:
The "W/R" level (likely "Weekly/Resistance" or “Weak/Resistance”) is marked around the $2,850–$2,900 zone, confirming the significance of that barrier.
Possible Scenarios
🔴 Bearish (as chart suggests):
ETH gets rejected near $2,900.
Starts a downtrend, possibly forming lower highs/lows.
Drops toward $1,400, and ultimately tests $600–$800 by 2026.
🟢 Bullish Alternative:
ETH breaks above the $2,900–$3,000 resistance.
Confirms breakout with volume and retest.
Potential rally toward $3,600–$4,000 upper channel resistance.
✅ Suggestions for You
If you’re trading or investing:
Watch price action around the $2,900–$3,000 resistance zone.
Consider volume confirmation before expecting a breakout or breakdown.
Use risk management
