ETH Daily Line False Breakdown Channel, Targeting Gap at 2600 vs. Trendline Ambush at 2420!
Regarding Ethereum, although it returned to the channel as expected by Sister Sheng and broke through the 2800 level, it couldn't hold that position and fell back into the channel! This false breakout has likely misled many into taking long positions, so we'll see if it can regain strength here; the next breakout will hopefully not be a false one!
In terms of movement:
After returning to the channel, attention should be paid to the operation of the channel. I've updated the position of the downward trendline; if it falls here, the trendline support will appear in the 2420-2450 range. Meanwhile, a gap area has also appeared on the CME chart below, with 2600 being seen as a short-term target and support level; if it breaks below, we will focus on the vicinity of 2420 mentioned above!
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ETH Analysis: June 12, 2025 Daily Chart
