Market Analysis markets Ethereum Trading Ether price Market Analysis

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Reading now: 801

Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH's price has been consolidating since May 11 inside a range defined by two converging trendlines.

Its sideways move coincides with a drop in trading volumes, underscoring the possibility that ETH/USD is painting a bear pennant.Bear pennants are bearish continuation patterns, meaning they resolve after the price breaks below the structure's lower trendline and then falls by as much as the height of the previous move downside (called the flagpole).As a result of this technical rule, Ether risks closing below its pennant structure, followed by additional moves to the downside.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News