ETH/USDT - Chart Analysis. 
2025-01-16
Category: None

Descending Triangle Formation: ETH is consolidating within the descending triangle pattern. The downward-sloping trendline represents resistance, while the flat support at the base provides a crucial level to watch.

Current Price: Trading at $3,368.63, ETH is near the lower boundary of the triangle.
$3,400 – $3,450: Immediate resistance area. A breakout above the descending trendline would indicate bullish momentum.

$3,800 – $4,000: A breakout confirmation target range.
$3,200 – $3,250: Crucial support area. A breakdown below this level could invalidate bullish scenarios and lead to further declines.
21 EMA (black): $3,387 – Providing short-term resistance.
50 EMA (red): $3,562 – Acting as dynamic resistance, a breakout above this would signal renewed bullish momentum.

ETH moving above $3,450 (descending trendline) could lead to a rally towards $4,000 – $4,400 with significant volume.
The green arrow shows this potential uptrend.

Let me know if you’d like further assistance or adjustments!

DYOR. NFA