$ETH The moving averages are in a bearish alignment, and a “double top” has formed:
The current price (2480.65) has now fallen decisively below the short-term moving average group. MA7 (2620.63) and MA25 (2635.34) have converged completely above the price, forming a very strong resistance zone (2620–2635). This is a typical “bearish moving average crossover,” indicating that bears have completely taken control of the short- and medium-term trends, with a large number of investors trapped above 2600.
The current price (2480.65) has now fallen decisively below the short-term moving average group. MA7 (2620.63) and MA25 (2635.34) have converged completely above the price, forming a very strong resistance zone (2620–2635). This is a typical “bearish moving average crossover,” indicating that bears have completely taken control of the short- and medium-term trends, with a large number of investors trapped above 2600.