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Ethereum – Double Top with Bearish Divergence
On the 4H chart, ETH is forming a clear double top while MACD prints a strong bearish divergence, signaling momentum loss.
📉 Neckline: $3,500 – this level acts as the key trigger.
🔻 Target: $3,000 – aligns with the 0.618 Fibonacci retracement and previous demand zone.
A confirmed break below $3,500 would validate the pattern and open the way to a deeper correction into the $3,000 area. As long as price stays under the second top, the bearish setup remains active.
Ethereum – Double Top with Bearish Divergence
On the 4H chart, ETH is forming a clear double top while MACD prints a strong bearish divergence, signaling momentum loss.
📉 Neckline: $3,500 – this level acts as the key trigger.
🔻 Target: $3,000 – aligns with the 0.618 Fibonacci retracement and previous demand zone.
A confirmed break below $3,500 would validate the pattern and open the way to a deeper correction into the $3,000 area. As long as price stays under the second top, the bearish setup remains active.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.