Hey Realistic Traders!
Bearish Reversal Signal Flashing on
ETHUSDT , Is the Bull Run Over?
Let’s Break It Down..
On the daily timeframe, Solana (SOL) has formed an ascending broadening wedge, which has now broken to the downside through both the lower trendline and a major support zone, indicating a shift in market structure.
Price action has also remained consistently below the 200-day EMA, signaling a potential transition from a bullish to a bearish trend.
A bearish divergence has appeared on the MACD indicator, where price makes higher highs while the MACD forms lower highs. This divergence indicates that buying momentum is weakening, even as the price pushes higher. Such a pattern often precedes a trend reversal and supports the expectation that the price may continue to move lower.
Given these technical signals, the price is likely to continue moving lower toward the first target at 1849.07, with a possible extension to the second target at 1534.44.
This bearish outlook remains valid as long as the price stays below the stop-loss level, currently marked at 2734.40. A move above this level would invalidate the bearish setup.
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on ETHUSDT.
Bearish Reversal Signal Flashing on
ETHUSDT , Is the Bull Run Over?Let’s Break It Down..
On the daily timeframe, Solana (SOL) has formed an ascending broadening wedge, which has now broken to the downside through both the lower trendline and a major support zone, indicating a shift in market structure.
Price action has also remained consistently below the 200-day EMA, signaling a potential transition from a bullish to a bearish trend.
A bearish divergence has appeared on the MACD indicator, where price makes higher highs while the MACD forms lower highs. This divergence indicates that buying momentum is weakening, even as the price pushes higher. Such a pattern often precedes a trend reversal and supports the expectation that the price may continue to move lower.
Given these technical signals, the price is likely to continue moving lower toward the first target at 1849.07, with a possible extension to the second target at 1534.44.
This bearish outlook remains valid as long as the price stays below the stop-loss level, currently marked at 2734.40. A move above this level would invalidate the bearish setup.
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on ETHUSDT.
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Disclaimer
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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.