- ETHUSDT forms a bearish double top pattern.
- A medium-term downtrend is likely before a bullish move.
- Traders should watch key support levels for opportunities.
Ethereum (ETHUSDT) is flashing warning signs for traders as it forms a double top pattern, a bearish signal that could lead to a medium-term downtrend. While Ethereum’s long-term outlook remains bullish, this pattern suggests that prices may dip before the next significant rally.
Understanding the Double Top Pattern
A double top occurs when an asset’s price reaches a high, pulls back, and then retests the same high but fails to break through. This signals a potential reversal as buyers lose momentum, paving the way for sellers to take control.
For ETHUSDT, this formation suggests that a pullback is likely before any major upside movement. Traders should monitor key support levels to gauge where Ethereum might find stability.
#ETHUSDT is showing signs of a double top pattern! 📉 A medium-term downtrend seems likely before the real uptrend kicks in! Stay sharp, traders! ⚡ #Ethereum #Crypto #Trading #CryptoAnalysis pic.twitter.com/v1a1GPAnV1
— CoinoMedia (@coinomedia) March 4, 2025
Key Levels to Watch
Resistance: The previous highs near $3,500 act as a major resistance zone. A breakout above this level would invalidate the bearish pattern.
Support: If the double top plays out, ETH could retrace to $3,000 or lower, making these key levels to watch for potential buying opportunities.
Confirmation: A breakdown below $3,200 with strong volume could confirm the bearish scenario, signaling further downside.
Should Traders Be Worried?
While a correction may seem negative, it’s a healthy part of any uptrend. ETH bulls may use this dip to accumulate before the next major rally. Staying cautious and watching price action at key levels will be crucial in the coming days.
