$ETH 1Hr Chart – Bearish Pennant Spotted!

Ethereum is flashing warning signs ⚠️ after a sharp drop from the $2,630 zone, now consolidating in a bearish pennant — a classic continuation pattern after steep declines.

A steep drop initiated the flagpole (from ~$2,630 to ~$2,480).

Now, price is coiling inside a tightening pennant, forming lower highs and higher lows — a pressure build-up.

These setups often break downward, continuing the prior trend.

📊 Key Levels

Support to watch: $2,495 – $2,500 zone

↳ If this breaks with volume, $2,420 – $2,440 range opens up fast.

Resistance: $2,540 – $2,550

↳ A breakout above this invalidates the pennant and flips structure neutral.

🧠 Smart money is likely waiting for confirmation.

💣 Breakdown = shorting opportunity or hedge.

🎣 Fakeout possibility exists, but volume + follow-through will confirm real move.

🔎 Watch closely. ETHEREUM is at a decision point — next move could set the tone for the broader altcoin market.