$ETH 2hr Chart Analysis
A Double Top pattern has formed on Ethereum’s 2-hour chart, with both peaks marked around the $2,640 region. This classic reversal structure signals growing exhaustion in the uptrend and a potential pullback ahead.
🔺 Pattern Breakdown
Top 1: ~$2,640 (July 3 rally high)
Top 2: ~$2,640 again (July 8 retest)
Neckline zone: ~$2,485
Break below the neckline could trigger downside pressure toward $2,400–$2,350
The pattern suggests bullish momentum is weakening, with sellers defending the same resistance level twice.
If bulls fail to hold above $2,580–$2,550, the neckline retest becomes highly probable.
🔑 Key Levels
Immediate resistance: $2,640 (double top zone)
Critical support: $2,485 (neckline)
Bearish target: $2,350 (if breakdown confirmed)
Double tops don’t lie—they reflect crowd psychology. Traders see repeated rejection and begin to doubt the uptrend. While #ETH hasn’t broken down yet, caution is warranted