Technical analysis by EstherLeblanc about Symbol ETH: Sell recommendation (10/25/2024)

Looking at the provided chart for Ethereum (ETHUSDT), there has been a clear breakout from the upward trendline. Following the breakout, the price has moved into a consolidation zone just below the resistance area marked in red around $2,575.Next Movement Direction Given the recent break of the trendline and the subsequent failure to hold the higher levels, Ethereum appears poised for further downside. The chart suggests a retest of the resistance zone at $2,575, but without sufficient momentum to break higher, the price is more likely to face rejection.Expected Move If the rejection holds, the next likely movement would be a drop towards the highlighted support zone around $2,440. This area is a key level to watch as it could provide significant buying interest. In this scenario, a bearish move toward the $2,440 zone seems probable, following the established downward trajectory after the breakout...