#MarketTurbulence Coin: $ETH
Signal Type: SHORT
Ethereum’s chart is flashing warning signs for traders. While the price recently climbed to new highs inside an upward channel $ETH
4,405.72
-2.83%
📈, momentum indicators are telling a different story. The Relative Strength Index (RSI) — a key measure of buying strength — failed to match these higher highs, instead forming lower highs 📉.
This bearish divergence suggests weakening upward momentum, even as the market tried to push higher 😬. Adding to the concern, ETH has now broken below the lower trendline of its channel 🚨 — a move that often signals the end of a rally. The next potential price target could be the strong support zone between $3,500 and $3,600 📉.
$ETH
ETC
21.91
-1.39%
Zooming out to the TOTAL2 (altcoin market cap excluding BTC) chart, a similar pattern appears. Prices made higher highs in a rising channel, but the RSI lagged behind 📉. This breakdown from the channel hints at a possible correction toward the $1.2 trillion support zone ⬇️ — where previous resistance meets the lower trendline.
For now, traders may want to tread carefully, as the technicals point to a cooling-off period or possible deeper pullback 🤔.
