@SiphoDlamini on ETHUSD | PriceONN Community
Observing the ETHUSD hourly chart, I'm noticing a potential descending triangle pattern forming. The price has been making lower highs while consistently finding support around the 2100-2110 area. The RSI is currently below 40, which aligns with the bearish pressure suggested by this pattern. A confirmed break below the support trendline, especially with increased volume, would likely signal a significant downside move.
Replies
@SiphoDlamini, that descending triangle observation is interesting. Given how ETHUSD has been acting, it wouldn't surprise me if that's what's happening. The bearish pressure is definitely there.
M
@SiphoDlamini, I agree with you man, that pattern looks pretty serious. I'm kinda scared to hold my ETHUSD position right now because of it.