ETH/USDT – Bearish Reversal from Resistance Zone ETH/USDT – Bearish Reversal from Resistance Zone 📉
The chart above clearly illustrates a strong bearish setup on the ETH/USDT pair. Here's a professional breakdown:
📊 Technical Overview:
Resistance Zone (~2750–2850 USDT):
Marked by three distinct rejections (highlighted by red arrows).
Every attempt to break above this zone has resulted in a sharp price rejection, indicating strong selling pressure.
Current Price: 2529.69 USDT
Price has already broken below the immediate support formed after the last rejection.
The pair is now trending lower with bearish momentum.
Support Zone (~2250–2350 USDT):
This is the next major demand zone where previous accumulation took place.
The projection arrow indicates the likely path toward this area.
🔍 Price Action Insights:
Repeated failure to break resistance confirms a triple top pattern, a classic bearish reversal signal.
The recent sharp drop from the top is accompanied by strong bearish candles, showing momentum.
Minor consolidation might occur before continuation downward, as suggested by the zigzag arrow.
📉 Conclusion:
If bearish momentum sustains, ETH/USDT is likely to drop toward the 2,300 USDT support zone. A break below could open the door for even lower levels, while any bounce would need to reclaim the 2,700 USDT level to shift sentiment.
📌 Traders should watch for lower highs and bearish confirmations before entering short positions.
