Ethereum Weekly Analysis: Double Top Breakdown

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Hello guys!

Ethereum has formed a clear double top pattern on the weekly timeframe — a strong bearish reversal signal. The pattern is confirmed by:

🔹 A break of the ascending trendline
🔹 Strong rejection from the $3,200–$3,400 resistance zone
🔹 Current price action hovering near $1,780

🧭 Target of the double top pattern lies in the $1,350–$1,450 zone — aligned with a low-volume area on the volume profile, which could act as a magnet for price.

Key Takeaways:

If ETH fails to reclaim the $2,000 zone, more downside pressure is likely.
A bounce may occur in the target zone, providing a possible mid-term long opportunity.
📌 Stay cautious and watch for reaction zones, especially if ETH reaches the $1,400 region.

You can buy it at $1400!

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ملاحظة

BlackRock’s Bold Bet on Ethereum: Is a $3,400 Surge Coming? 🚀

BlackRock has ramped up its Ethereum holdings to a staggering $1.145 billion, signaling strong institutional confidence.

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أغلقت الصفقة: تم الوصول للهدف

Target of pattern touched