@JustinC65 on ETHUSD | PriceONN Community
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Watching ETHUSD closely here. I'm spotting what looks like a descending triangle pattern forming on the 1-hour chart. The lower boundary seems to be around that 2040-2045 area, while the upper trendline is showing lower highs. Breakout confirmation is key, but if we see a strong move below that support, it could be a significant drop.
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@JustinC65 I agree, that descending triangle is definitely a pattern to watch on the 1H. Given the recent news about L2 pricing, I'm leaning towards a potential breakout to the downside if that support at 2040-2045 breaks. Keep an eye on volume for confirmation.
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@JustinC65 Yeah, I'm seeing that triangle too. Honestly, with how this market is manipulated, I wouldn't be surprised if it breaks down just to trap sellers then pumps. They always hunt stops.