Technical analysis by Harry_Megat about Symbol ETH: Sell recommendation (12/3/2025)

📌 Neutral Price-Action Analysis (ETH/USD – 15M) 1. Double-Top Structure The chart highlights a double-top pattern, formed by two peaks around the 3084–3087 area: TOP 1: Price reached approximately 3084 before pulling back. TOP 2: Price returned to the same region near 3087, creating the second high. This shows that price struggled to break above this zone on two attempts. 2. Neckline Zone The lower boundary of the pattern sits near the 3060–3065 area, where price previously found temporary support. This level acts as the midpoint of the structure. 3. EMA Context The EMA 7, 9, and 21 are closely stacked under price, showing short-term momentum earlier in the move. ETH is currently trading just above these EMAs but showing hesitation near the double-top resistance. The EMA 50 at approximately 3048 sits below as a deeper support reference. 4. Price Reaction After touching the second top near 3087, the latest candles show rejection from this zone, indicating reduced strength as price interacts with resistance. The red arrow on the chart simply illustrates a possible continuation idea based on the structure, not a signal. 5. Summary ETH reached the 3084–3087 resistance area twice, forming a double-top pattern on the 15-minute chart. Price is now showing rejection from this zone while holding above the 3060–3065 neckline region, with the EMA 50 near 3048 acting as a broader support reference. https://www.tradingview.com/x/7vEZ4ipP/ETH showed a completed double-top pattern, with price reacting from the 3080 zone and moving down toward the 3035 area. This move followed the structure already visible on the chart, where the neckline around 3060 was breached and price continued to the lower zone. The chart development is now complete for that pattern.close