CHARTVIPER

A Channel Down has formed, and Ethereum is approaching support. Should we expect a breakout and the start of a new trend, or a reversal?

Possible breach of the resistance level for Ethereum
An emerging Channel Down pattern in its final wave has been identified on the Ethereum 1 hour chart. After a strong bullish run, Ethereum is heading toward the upper triangle trendline, with possible resistance at 3050.6265. If the resistance holds, the Channel Down pattern suggests a rebound toward current levels.

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