ETH Trendline Breakdown Signals Deeper Pullback Risk
Ethereum / TetherUS BINANCE:ETHUSDT
Hi!
ETH has decisively broken its rising trendline, confirming a shift in short-term market structure. After the breakdown, price retraced into the former support zone (now acting as a flip area), which served as a corrective move rather than a bullish reclaim.
With the flip area holding as resistance, downside pressure remains dominant. If momentum continues, ETH could extend the move lower toward the $2,630 target zone, which aligns with a key demand area on the chart.
Overall bias stays bearish below the flip area, with any weak bounces likely to be corrective.
source https://www.tradingview.com/chart/ETHUSDT/zv7aOyr4-ETH-Trendline-Breakdown-Signals-Deeper-Pullback-Risk/
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