Ethereum (@Ethereum World News ) Technical Analysis: Breakdown Structure & Next Potential Moves
$ETH #Ethereum
ETH has confirmed a significant bearish shift on the higher timeframes. The weekly chart broke below the crucial $3,400** support, which had held as a structural low since early 2024. This breakdown shifts the market structure from bullish to bearish, with the subsequent loss of **$2,800 solidifying a pattern of lower highs and lower lows.
Here are the two most probable scenarios based on the current price structure:
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๐ป Scenario 1: Retest of Breakdown Zone Before Further Decline
ยท Price is likely to pull back toward the weekly breakdown zone: $3,200 โ $3,450
ยท This area, once support, is now expected to act as resistance
ยท A rejection from this zone would form a lower high, opening the path toward $2,200 and possibly lower
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๐ป Scenario 2: Direct Continuation Downward
ยท ETH may continue its momentum without a significant pullback
ยท Immediate break below the recent low ($2,650**) could target the **$2,200 โ $2,000 support zone
ยท Any pullback thereafter would then retest the $3,200 โ $3,450 area as new resistance
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โ Invalidation & Key Consideration
The bearish structure remains valid unless ETH reclaims $3,450 and prints a higher high. Until then, the path of least resistance is down. Traders should watch for momentum shifts near support zones, but any bounce should be treated as corrective until proven otherwise.
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Trade with the trend, manage risk, and always wait for confirmation.
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