$ETH
{future}(ETHUSDT)

{spot}(ETHUSDT)
ETH is forming a bear flag.

If bear flag plays out and price breaks through 3,100 level then on the basis of the measured move of the flag pole, ETH is likely to test 2,500. There is also a fib retracement level of 78.6% at 2,500.

In the process ETH there will be significant support zone around 2,800 - 2,900 because:
- there is a fib retracement level of 61.8% at 2,900
- strong support zone on weekly timeframe around 2,800
- ETH pierced through 2,800 and never retraced back to this level

Remember technicals are all probabilities, price could break 3,600 level (upper trendline of the bear flag channel) to test all time highs.
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