Ethereum just broke down hard from its rounded top pattern on the 1-hour chart, showing that bullish momentum is fading.
A big red candle with high volume pierced the ascending trendline, a classic sign that sellers are taking over.
📊 Key signals:
RSI: Dropped to 35.65, heading toward oversold levels.
MACD: Turned bearish, confirming downward momentum.
Price: Now below short-term moving averages, meaning recoveries may face resistance at $4721–$4727.
📉 If the drop continues:
Price may retest the broken trendline as resistance before falling further.
Support levels: $4448 first, then stronger demand near the 200 EMA at $4191.
⚠️ Takeaway: Avoid rushing into long trades. Wait for ETH to reclaim the trendline before turning bullish. For now, sellers have the advantage.
#ETH #Ethereum #CryptoTrading #BearishTrend #MarketGreedRising
