Technical analysis by ZareeFxTradingAac about Symbol ETH: Sell recommendation (11/23/2025)

Chart Analysis Your chart illustrates a bearish setup forming on the ETH/USD 30-minute timeframe: 1. Rising Wedge Pattern (Bearish Structure) ETH has been moving inside a rising wedge, a pattern that often signals weakening bullish momentum. Price makes higher highs and higher lows, but the slope is narrowing—indicating a potential reversal. Toward the right side of the wedge, candles show slowing upward momentum. 2. Key Resistance Zone A major resistance area lies around $2,880 – $2,920. Price reaches the upper boundary of the wedge right at this resistance, making it a high-probability rejection point. 3. Entry Trigger The chart indicates an entry after price breaks down from the wedge structure. A bearish arrow highlights the expected move downward. 4. Bearish Target The target zone aligns with the support zone around $2,630 – $2,650. This level has previously acted as a strong demand zone (highlighted with a green arrow and circle). 5. Market Psychology Buyers attempted to push ETH higher but were unable to break above resistance. Sellers stepped in near resistance, causing a breakdown from the wedge. The structure supports a trend continuation to the downside. 6. Summary The chart signals a bearish reversal from a rising wedge at resistance, with a likely move back into the support zone. This aligns with classic technical analysis principles: wedges break downward and often return to the base of the formation.