Ethereum has officially broken down from the rising wedge pattern on the 1-hour chart, confirming a bearish reversal. The wedge breakdown was accompanied by a clear bearish divergence between price and RSI, where price made higher highs but RSI formed lower highs — a strong early warning of weakening bullish momentum. 🔻
The price action has now closed below the wedge support line, signaling potential continuation to the downside.
🔹 Current Outlook:
Breakdown has been confirmed with a bearish candle close below support.
RSI is turning down, suggesting more room for further downside movement.
Immediate minor support zones are near $1780 and $1750.
Bigger target lies around $1690 based on the measured move of the wedge.
🔹 Trade Management:
✅ If you are already short from the wedge break,
managing the trade with stop-loss above $1850 would be reasonable.\
✅ First take-profit levels: $1750, then $1690 for extended targets.
📌 Note: Watch for retest scenarios — price might come back toward the broken wedge support (~$1800–$1810) before continuing the drop ("kiss of death" retest pattern).
The price action has now closed below the wedge support line, signaling potential continuation to the downside.
🔹 Current Outlook:
Breakdown has been confirmed with a bearish candle close below support.
RSI is turning down, suggesting more room for further downside movement.
Immediate minor support zones are near $1780 and $1750.
Bigger target lies around $1690 based on the measured move of the wedge.
🔹 Trade Management:
✅ If you are already short from the wedge break,
managing the trade with stop-loss above $1850 would be reasonable.\
✅ First take-profit levels: $1750, then $1690 for extended targets.
📌 Note: Watch for retest scenarios — price might come back toward the broken wedge support (~$1800–$1810) before continuing the drop ("kiss of death" retest pattern).
Note
Our First Target Profit Hit. 
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.