🔥 Ethereum Bearish Triangle: More Pain Ahead?

١٢ أكتوبر ٢٠٢٢

Over the course of a few weeks now, ETH has been in a strong downwards trend. During this period, a bearish triangle has emerged on the chart.

With today's bearish PPI report, ETH has yet again reversed from the top resistance line. In my view, we're going to make our way towards the $1275 bottom dotted support.

In case we can get a hourly close below $1275, I'm counting on a successful break out of the bearish pattern. Short-term targets placed in blue.