Ethereum’s Technical Analysis: A Bearish Outlook

Ethereum’s Technical Analysis: A Bearish Outlook

Ethereum has recently broken out from a strong support zone at 3180, and Ethereum’s price trajectory has taken a bearish turn.

We can observe a bearish wedge pattern on the 60-minute chart, which is often indicative of a continuation of the downward trend.
This pattern suggests that we may expect further declines in the near term.

Support Zones Ahead
As Ethereum continues its descent, the next immediate support zones are identified at 3130 and 3030.

Looking at the broader perspective, the current patterns and support breakouts hint at a potential for more substantial downward movements.

You may find more details in the chart!
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