This chart shows a technical analysis for Ethereum (ETH/USD) on the 45-minute timeframe, posted on May 1, 2025. Here's a breakdown of the chart elements and what they suggest:
Key Observations:
Current Price: $1,809.5, up by $15.5 (+0.86%).
Chart Pattern: Descending channel or bearish flag.
The upper trendline (resistance) is sloping down, touching recent highs.
The lower trendline (support) is also slightly sloping downward or flat.
Bearish Setup:
Price is approaching the resistance zone (orange shaded area).
A potential rejection is illustrated by the downward arrow, targeting a drop toward the $1,725–$1,730 support area.
Projection:
After the slight bullish move to retest the upper boundary, a sharp drop is anticipated—likely a continuation of a broader downtrend.
Support Level: Around $1,725, where the price may find demand or consolidate.
This setup indicates a possible short opportunity if the price gets rejected at the upper trendline and fails to break above it decisively.
Would you like help identifying an entry/exit strategy based on this analysis?
Key Observations:
Current Price: $1,809.5, up by $15.5 (+0.86%).
Chart Pattern: Descending channel or bearish flag.
The upper trendline (resistance) is sloping down, touching recent highs.
The lower trendline (support) is also slightly sloping downward or flat.
Bearish Setup:
Price is approaching the resistance zone (orange shaded area).
A potential rejection is illustrated by the downward arrow, targeting a drop toward the $1,725–$1,730 support area.
Projection:
After the slight bullish move to retest the upper boundary, a sharp drop is anticipated—likely a continuation of a broader downtrend.
Support Level: Around $1,725, where the price may find demand or consolidate.
This setup indicates a possible short opportunity if the price gets rejected at the upper trendline and fails to break above it decisively.
Would you like help identifying an entry/exit strategy based on this analysis?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.