let's dive into the ETH/USDT chart and see what story it's telling us.
It looks like Ethereum just ran into a brick wall. After a fantastic run-up, hitting a high of $4,788, the momentum has completely reversed. That big, angry-looking red candle is a major warning sign. The price has not only broken below the fast-moving yellow EMA (7), but it's also currently flirting with the pink EMA (25).
The uptrend that was so strong now looks very fragile. The bulls have lost control, and the bears are flexing their muscles, pushing the price down aggressively.
So, here's the trade signal: The party for the bulls seems to be over for now. A sell signal is flashing, as the price is falling and the short-term trend is clearly turning bearish. A potential target for this move could be the next major support level, which is the purple EMA (99) around the $4,051 mark. That's where we might see some buyers step back in and try to stop the bleeding.