Technical analysis by Johnson67 about Symbol ETH: Sell recommendation (5/31/2025)

Technical Features Identified:1. Historical Price Action:The chart shows a prolonged sideways consolidation (labeled as “side ways”) in late April and early May.This period is marked with low volatility and horizontal price movement.2. Breakout:A breakout to the upside occurred around May 10th, with a significant rally leading into a new high.This move formed a bullish impulse followed by multiple market structure shifts, possibly indicating the end of the uptrend.3. Distribution Pattern:Post-rally, the price appears to be forming a distribution zone or a head and shoulders/top formation, suggesting potential exhaustion of buying pressure.The highlighted rectangle in dark grey seems to indicate a resistance/supply zone where price is struggling to break higher.4. Forecasted Price Movement:There are red arrows pointing downwards, indicating a bearish bias.A projected path shows price may break below the current range and head lower.The target zone is marked near the $2,125 - $2,050 range, implying a bearish target based on the current pattern.5. Indicators & Tools:Ichimoku Cloud is visible (light blue area), typically used to assess momentum, trend, and potential support/resistance levels.Chart annotations include boxes for consolidation zones, arrows for forecast direction, and price labels for expected targets.Liquidity sweep and wick-only analysis is applied, suggesting the trader is considering stop hunts or fake-outs in liquidity zones.---Conclusion & Sentiment:This chart suggests a bearish outlook for ETH/USD in the near term. The trader anticipates a breakdown from the consolidation following a distribution pattern, with a projected downside target around $2,125. The analysis is focused on price action, liquidity dynamics, and support/resistance zones.