Triple Top or Takeoff? ETH to test critical resistance
Ethereum is testing the $4,090 resistance for the third time, raising concerns of a potential triple top formation. If the price fails to break through this critical level, it could signal a bearish reversal, leading to a decline toward $3,800 or lower. Triple tops often indicate weakening momentum, as sellers overpower buyers at consistent highs. However, if the resistance holds and ETH rejects again, traders should watch for a breakdown confirmation below $4,000. A decisive break above $4,100, on the other hand, could invalidate the bearish setup and open the path to new highs.
Key levels to watch if ETH breaks to the upside -
If ETH gets denied at 4090 expect a pullback to the 3800 level, if ETH can stay above this level it will eventually test 4090 a 4th time
Key levels to watch if ETH breaks to the upside -
- 4200-4250 - Psychological resistance
- 4400-4450 - Halfway mark to ath
- 4600-4650 - Past resistance
If ETH gets denied at 4090 expect a pullback to the 3800 level, if ETH can stay above this level it will eventually test 4090 a 4th time
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