🧨 ETH: Bear Flag on the Horizon? 📉

Ethereum ($ETH) bounced back slightly after the drop, but this bounce seems to have formed a bear flag — a classic continuation pattern of a downtrend.

🔍 Technical Picture:

📌 Current Price: $3559

📈 Local Flag High: $3880

📉 Local Flag Low: $3354

⚠️ If the price breaks down through the lower boundary of the flag (around $3450–$3500), it may trigger a new decline with a target of approximately:

➡️ Target for the Pattern (based on the height of the flag):

3880 - 3354 = 526

3559 - 526 = ≈ $3030

🧭 What to Watch:

Breakdown and consolidation below $3450

Volumes on the breakdown

Behavior around the $3350 zone

🛡 Bulls need to hold the $3350 level, otherwise, bears will take the initiative completely.