ETHUSDT Continues to Fall After Breaking Trendline
2024-10-25

Based on the ETHUSDT 4-hour chart, a clear bearish trend emerged after the price broke the rising trendline and continued to move below the 2.575 resistance zone. This is a sign that the bearish momentum is likely to continue.

Technical Analysis:
Trendline: After breaking the rising trendline, the bearish trend is clearly confirmed. This shows that the sellers are in control of the market, and the possibility of further decline is very high.

EMA (Moving Average): Although the chart does not show the EMA lines directly, with the strong downward momentum after breaking the resistance zone, it is very likely that the price has moved below the short-term EMA lines (EMA 34 and EMA 89). When the price is below the EMA, the bearish trend tends to be reinforced.

Market Factors:
Market Sentiment: Ethereum's downside correction could be due to investors losing their optimism about crypto assets, or due to unfavorable factors from traditional financial markets such as tightening monetary policy, reducing the attractiveness of risky assets.
Macro Data: If interest rates continue to rise and inflation remains high, this will put pressure on Ethereum prices in particular and digital assets in general.
Conclusion:
This prolonged decline could continue if the price fails to break above the 2,575 resistance zone and EMA. Traders can consider a short strategy when the price retests the resistance zones or EMAs, with the price target possibly falling to around 2,400 or lower.