🚹 ETH HUGE DUMP ALERT 🚹

Coin Name: #Ethereum

Signal Type: SHORT

I’ve spotted a significant Head & Shoulders (H&S) pattern on the 12-hour timeframe, which is a strong bearish signal. If ETH breaks its key support line, we could see a sharp drop. This is a crucial setup, and it could lead to a big move to the downside.

📉 STOCH RSI Insight:

In the STOCH RSI, there’s a clear cross to the downside, indicating that ETH is bearish from a mid-term perspective. This further confirms my short bias on Ethereum.

USDT Dominance Analysis:

USDT dominance is looking bullish right now. As you can see from my screenshots, USDT dominance has broken out of its falling wedge resistance line and is holding strong in a channel on higher timeframes. I expect USDT dominance to rise and retest its upper resistance. Remember, when USDT dominance is bullish, BTC and altcoins (like ETH) typically move bearish due to the negative correlation.

📊 Key Support Level:

The 2130 level is a critical support for ETH. If this support breaks, ETH could dump even further. The H&S pattern’s technical target is around $1930, which would be a substantial drop.

🔍 Current ETH Price: $2405

🎯 My Short Target: $2150

📈 Take Profit Targets:

1ïžâƒŁ TP1: $2200

2ïžâƒŁ TP2: $2050

3ïžâƒŁ TP3: $1930 (H&S pattern target)

This setup presents a high-probability trade, and it’s crucial to act fast before the dump happens. Keep an eye on my live streams for real-time updates and insights!

#moonbix #BTC60KResistance #SCRPricePrediction #SCRPricePrediction #USCoreCPIUp