Bearish ETH - 20 December 2024 - Technical Analysis

EURUSD Forex

Ethereum

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 4 Hour time frame chart supports Ethereum Bearish bias. A break of 3415.41 will support the fall towards the target of 3115.66 the break of 3115.66 would push the price to 2915.83.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 3427.58
Support S1: 3418.46, S2: 3400.68 , S3: 3391.56
Resistance R1: 3445.36 , R2: 3454.48 , R3: 3472.26

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Summary

Instrument :

Ethereum

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

50%

Entry Level :

3415.41

Activation Time :

2024-12-19 22:00

Age :

4 Bars

Progress :

100%

Close Time :

2024-12-20 10:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.