Ethereum’s 1-hour chart is setting the stage for a hot sell opportunity, and the market is taking notice! ETH just bounced off the upper resistance of a well-defined descending channel, signaling renewed selling pressure and a likely extension of the downtrend.
Traders are zeroing in on the key sell zone around $3,660–$3,670—right at the channel resistance. Targets are clearly mapped out for bears: TP1 at $3,580, TP2 at $3,500, TP3 at $3,420, and a mega move toward $3,320–$3,300 near channel support. Meanwhile, stop-losses are wisely set tight above the recent double top high at $3,880, minimizing risk if things turn.
The technicals are loud and clear: as long as ETH continues to get rejected at these levels, momentum favors the downside. The channel remains elusive for bulls, so traders are watching each lower high for confirmation of further drops.
Stay alert—ETH is showing textbook bear signals, and this could be a golden setup for those ready to play the short side!
