🔍 Technical Analysis for Pair $ETH /USD — A Descending Structure Dominates the Scene
The Ethereum pair against the US dollar (ETH/USD) has turned into a clear downward trend after breaking a long-standing ascending channel. The recent movement reflects a strong rejection from key resistance areas, reinforcing the chances of continued decline.
✳️ Key Technical Points
1️⃣ Broken Ascending Channel
Ethereum was trading within an ascending channel, but it decisively broke it, indicating strong seller entry.
2️⃣ Failed Re-Test
The price attempted to break through the 2,386 – 2,444 area (previous support), but it turned into strong resistance backed by a clear block of sell orders, leading to a rapid price rejection.
3️⃣ Confirmation of a Descending Structure
Lower highs and lows have formed, and buyers have failed to regain important levels, highlighting weak demand on the rise.
🎯 Important Technical Levels
🔺 Resistance
• 2,386 — Structural Resistance
• 2,444 — Major Bearish Peak
• 2,682 – 2,764 — Strong Supply Area
🔻 Support and Potential Targets
• 2,100 — First Support
• 2,000 — Important Psychological and Structural Support
🧠 Proposed Strategy
Classic Scenario: Break – Re-Test – Continued Decline.
If the price re-tests 2,386 – 2,444 and a strong bearish signal appears (such as a rejection candle or bearish engulfing), it could be a strong selling opportunity towards targets of 2,100 and 2,000.
⚠️ Note
Confirmation of the movement is essential, so monitor momentum and price reactions closely.