Gk_Aronno
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$ETHUSDT Bearish downtrend Analysis:
$ETH
Let' analyse ETHUSDT:
Ethereum has been consistently respecting a strong descending channel and 21-day EMA since its peak earlier this year. Each lower high has led to a significant drop, creating a pattern of bearish rallies followed by sharp corrections. Let’s break it down:
Bearish Wave Structure:
ETH has seen four major drops off this trendline:
-28.55%
-34.03%
-30.56%
Each time price approached the trendline, it faced heavy resistance, leading to these sharp declines — forming a repeating structure of lower highs and lower lows.
Current Setup:
ETH is now again testing the descending channel and 21 day EMA, mirroring previous price behavior. This is a key decision point.
Technical Observations:
Price is approaching horizontal resistance, 21D EMA, and the channel upper line.
Rejections from this area have historically triggered steep drops.
The downtrend remains intact unless a clean breakout occurs.
What to Watch For:
Rejection Zone: ~$1,750–$1,730 (previous horizontal rejection zones + channel).
Confirmation of Breakout: Daily close outside channel and above 21D EMA with follow-through volume.
Breakdown: Failure to break and bearish engulfing near resistance could signal another wave down.
Conclusion:
ETH is at a critical resistance confluence. While a breakout would be a significant technical shift, the current trend favors caution. Watch closely for confirmation signals before positioning.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments, and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
Let' analyse ETHUSDT:
Ethereum has been consistently respecting a strong descending channel and 21-day EMA since its peak earlier this year. Each lower high has led to a significant drop, creating a pattern of bearish rallies followed by sharp corrections. Let’s break it down:
Bearish Wave Structure:
ETH has seen four major drops off this trendline:
-28.55%
-34.03%
-30.56%
Each time price approached the trendline, it faced heavy resistance, leading to these sharp declines — forming a repeating structure of lower highs and lower lows.
Current Setup:
ETH is now again testing the descending channel and 21 day EMA, mirroring previous price behavior. This is a key decision point.
Technical Observations:
Price is approaching horizontal resistance, 21D EMA, and the channel upper line.
Rejections from this area have historically triggered steep drops.
The downtrend remains intact unless a clean breakout occurs.
What to Watch For:
Rejection Zone: ~$1,750–$1,730 (previous horizontal rejection zones + channel).
Confirmation of Breakout: Daily close outside channel and above 21D EMA with follow-through volume.
Breakdown: Failure to break and bearish engulfing near resistance could signal another wave down.
Conclusion:
ETH is at a critical resistance confluence. While a breakout would be a significant technical shift, the current trend favors caution. Watch closely for confirmation signals before positioning.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments, and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.