Technical analysis by Spriter35 about Symbol ETH: Sell recommendation (3/29/2024)

Ethereum is poised to reach $3050 despite the presence of a bearish chart pattern known as a "bearish flag pattern," typically indicating a continuation of the prevailing downtrend. This pattern forms when the price experiences a sharp downward move, followed by a consolidation phase marked by a flag-shaped pattern with parallel trend lines sloping upward.