ETH/USDT Analysis (30M)

Jul 6

Hi!

Ethereum is showing signs of weakness after breaking its ascending trendline and completing a potential head-and-shoulders pattern. The neckline around $1,735 has already been broken, turning the previous support into resistance.

Price is currently sitting above a key demand zone between $1,724-$1,735, so a short-term bounce is still possible. However, as long as ETH remains below the broken neckline and fails to reclaim higher levels, the bias stays bearish.

If sellers maintain control and this support area gives way, the next downside target sits around $1,705-$1,710, which aligns with the highlighted target zone on the chart.

Key levels:

• Resistance: $1,735-$1,745
• Support: $1,724
• Bearish target: $1,705-$1,710

For now, the market structure favors the bears unless buyers can push price back above the neckline and hold it there.

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Jul 7

Trade active

Let's take a risk here

Jul 8

Trade closed: target reached

#eth #ethereum
The first target touched