📉 Ethereum Bearish Breakdown – Volatility Ahead!
1. Bearish Pennant Breakdown: Price broke down from a small consolidation (pennant) within the broader descending wedge, indicating strong bearish momentum.
2. Support Reached: ETH touched the lower boundary of the broadening wedge, which has acted as support previously.
3. RSI Oversold (38): RSI near oversold territory suggests a short-term relief bounce could occur before further decline or consolidation.
🔮 Predicted Momentum:
Short-Term (1–2 days): Possible bounce toward $2,460–$2,500 as RSI recovers.
Mid-Term (3–5 days): If ETH fails to break above $2,500–$2,530 resistance, further downside towards $2,300–$2,250 is likely.