๐ What the Chart is Showing:
Ethereum has just printed a textbook bearish divergence, and the outlook isnโt exactly bullish ๐ฌ.
The price has been edging upward ๐, forming higher highs within a rising channel. However, the RSI โ our momentum gauge โ is painting a different picture ๐, making lower highs instead.
This gap between price action and momentum is a clear warning ๐ฉ that buying strength is weakening despite price climbing.
๐ฅ Fresh Confirmation:
ETH has now broken below the channelโs lower boundary ๐จ โ a strong indication that the recent uptrend could be coming to an end.
Iโm keeping my focus on the $3,500โ$3,600 range โฌ๏ธ as the next likely destination.
๐ TOTAL2 is Sending the Same Signal:
The total altcoin market cap chart is also flashing bearish divergence ๐.
Its rising channel has been broken, with a possible move down toward $1.2T ๐ฆ โ a major support level.
If that plays out, it could mark the start of a broader altcoin market correction ๐ฑ.
๐ฐ Spot Trade Plan:
Entry: 4413.82
TP1: 4351.58
TP2: 4211.02
SL: Manage according to your personal risk tolerance โ ๏ธ
โ ๏ธ Why This Matters:
This isnโt just about Ethereum โ if the TOTAL2 breakdown is accurate, the entire altcoin sector could face a pullback.
In moments like these, patience and discipline are your best protection ๐ก๏ธ.
๐ข Your Next Steps:
โก๏ธ Spot traders should keep these key levels on their radar.
โก๏ธ For more real-time setups and updates, check my profile and read my BIO ๐
#Ethereum #CryptoSignal #ETH #BearishDivergence #MarketTurbulence