📉 $ETH /USD Bearish Setup – Channel Rejection Hints at Major Drop Ahead!
📊 Ethereum Faces Strong Resistance in Key Sell Zone
Ethereum's 1-hour chart is flashing clear bearish signals. After testing the upper boundary of a well-formed descending channel, ETH was firmly rejected, indicating a likely continuation of the downtrend. Traders are watching closely as the setup unfolds.
📍 Key Levels to Watch
The crucial sell zone lies between $3,660–$3,670, right at the channel's resistance line. Bears have their targets lined up:
🔻 TP1: $3,580
🔻 TP2: $3,500
🔻 TP3: $3,420
🔻 Extended Target: $3,320–$3,300 near major support.
Smart traders are placing tight stop-losses just above the recent double top at $3,880 to manage risk efficiently.
📉 Momentum Still Favors the Bears
The trend remains firmly in bearish territory as ETH continues to post lower highs within the channel. Repeated rejections at resistance make it difficult for bulls to gain control, reinforcing the possibility of further downside.
📢 What Traders Should Focus On
With strong technical confluence pointing downward, this could be a solid short opportunity for savvy traders. The structure is clean, the signals are loud, and risk is clearly defined—perfect ingredients for a high-conviction setup.
🧭 Final Thoughts: Risk Smart, Trade Sharp
As always, managing position size and respecting stop levels is key. ETH is showing a classic bear setup, and while nothing is guaranteed, the odds currently favor those playing the downside.
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