Ethereum more possibilities for downside momentum
On the daily timeframe, #ETHUSDT has been exhibiting a bullish trend, but recently experienced a bearish impulse. As a result, we anticipate a potential retracement towards the trend line that has formed. Additionally, on the hourly timeframe, there is a bearish flag pattern formation, which further strengthens the possibility of a bearish breakout and subsequent downward movement. Traders should remain cautious and monitor the price action closely for confirmation of the bearish breakout and potential continuation of the bearish momentum. It's important to stay updated with the latest market information as conditions can change rapidly.
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