ETH/USDT Bearish Setup – Rising Wedge Breakdown & Retest

Ethereum (ETH/USDT) has broken down from a rising wedge — a classic bearish pattern — and is now showing signs of rejection after a clean retest of the broken trendline around $3,679.

Structure:
Rising wedge pattern on the higher timeframe
Breakdown confirmed with retest of lower trendline as resistance
No bullish follow-through after retest

Trade Plan:
Bias: Bearish below $3,680
Entry Zone: Anywhere below $3,670–3,680 if rejection is confirmed
Stop Loss: Above $3,720 (invalidation)
Targets:
Target 1: $3,298
Target 2: $2,880
Target 3: $2,640

Key Notes:
If ETH reclaims and holds above $3,680, the setup gets invalidated
Watch BTC behavior — ETH tends to follow
Volume shows no strength from bulls post-breakdown
This setup presents a high-risk, high-reward opportunity if the price continues to decline from this zone.

Conclusion:
Stay cautious, as the market could see more downside if ETH stays below $3,680. Manage risk accordingly.

DYOR | Not Financial Advice