Technical analysis by QAZIFXTRADER about Symbol ETH on 12/3/2025

Ethereum has formed a clear double-top pattern at a major resistance zone, suggesting weakening bullish momentum. After sweeping sell-side liquidity and breaking the ascending trendline, price retested the resistance area and showed strong rejection. This indicates a likely bearish continuation, with downside targets aligned with the previous demand zone around $2,720–$2,750. Traders should watch for confirmation of a lower high before entering short positions. 1. Prior Trend: Bullish Trendline (Broken) Price was following a clean bullish trendline, making consistent higher lows. This trendline was eventually broken, which is the first sign of weakening bullish structure. 2. Major Resistance Zone Identified Price repeatedly reacted to the $3,030–$3,050 resistance zone, forming: Multiple rejections (red arrows) Liquidity build-up above equal highs A double-top pattern, signaling exhaustion of buyers This level is clearly a strong institutional resistance zone. 3. Liquidity Sweep & Market Structure Shift Inside the highlighted zone: Price swept liquidity above previous highs (stop-hunt). Immediately after, a strong bearish displacement occurred (large red move). This created a market structure shift (MSS) from bullish to bearish. This is typical of: Smart Money Concepts (SMC) — Liquidity grab + reversal 4. Bearish Retracement Back Into Supply After falling sharply, ETH retraced back into: The same resistance/supply zone Inside the double-top region With weakened bullish reaction This suggests the retracement is corrective, not a bullish continuation. 5. Expected Move (Based on Structure) A clear sell-side target around $2,720–$2,750 A previous demand zone where orders were filled last time Clean lows below, acting as sell-side liquidity ✔ Trendline broken → bullish trend weakening ✔ Liquidity swept at resistance → stop-hunt ✔ Double top → reversal signal ✔ Strong bearish displacement → institutional selling ✔ Retest into supply → continuation setup ✔ Downside target: $2,720–$2,750