From TradingView · · 40s
Ethereum Price Breaks Falling Wedge
Ethereum price expected to drop below $2300 after fake out.
In brief
Ethereum price expected to drop below $2300 after fake out. Ethereum price will fall to $2100 after breaking $2340 resistance. Originally reported by TradingView.
Falling wedge pattern
Ethereum price shows falling wedge pattern on chart.
Market makers target liquidity
Market makers seek liquidity in direction of path of least resistance.
3-month bear market
3-month chart shows double top off multi-year bull market.
MACD confirms bearish trend
MACD deep in red ensuring buying pressure overwhelmed by selling.
First target zone
Price expected to drop to $2340-$2300 before second target.
Second target zone
Price likely to fall to $2260-$2200 with potential drop to $2100.
The essence
Ethereum price will fall to $2100 after breaking $2340 resistance.
