helo guys
Ethereum is currently trading within a clear range, and recently formed a bearish triangle pattern near the top of the consolidation. A visible RSI divergence confirmed the loss of bullish momentum as price made a higher high, but RSI printed a lower high — a common sign of exhaustion.
Now, ETH is moving downward within the triangle, and pressure is building near the lower edge of the range. If the pattern breaks down as expected, the next likely move is a drop toward the support zone around $2,370–2,380, which marks the bottom of the range.
This setup shows a typical structure:
Divergence → Triangle → Breakdown toward range low
Unless price reclaims the triangle top quickly, bears have the upper hand in the short term.
Ethereum is currently trading within a clear range, and recently formed a bearish triangle pattern near the top of the consolidation. A visible RSI divergence confirmed the loss of bullish momentum as price made a higher high, but RSI printed a lower high — a common sign of exhaustion.
Now, ETH is moving downward within the triangle, and pressure is building near the lower edge of the range. If the pattern breaks down as expected, the next likely move is a drop toward the support zone around $2,370–2,380, which marks the bottom of the range.
This setup shows a typical structure:
Divergence → Triangle → Breakdown toward range low
Unless price reclaims the triangle top quickly, bears have the upper hand in the short term.
Trade closed: target reached
the pointed area touched
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.