Technical analysis by Mr_Expert7- about Symbol ETH on 5/1/2025

This chart shows a technical analysis for Ethereum (ETH/USD) on the 45-minute timeframe, posted on May 1, 2025. Here's a breakdown of the chart elements and what they suggest:Key Observations:Current Price: $1,809.5, up by $15.5 (+0.86%).Chart Pattern: Descending channel or bearish flag.The upper trendline (resistance) is sloping down, touching recent highs.The lower trendline (support) is also slightly sloping downward or flat.Bearish Setup:Price is approaching the resistance zone (orange shaded area).A potential rejection is illustrated by the downward arrow, targeting a drop toward the $1,725–$1,730 support area.Projection:After the slight bullish move to retest the upper boundary, a sharp drop is anticipated—likely a continuation of a broader downtrend.Support Level: Around $1,725, where the price may find demand or consolidate.This setup indicates a possible short opportunity if the price gets rejected at the upper trendline and fails to break above it decisively.Would you like help identifying an entry/exit strategy based on this analysis?