Ethereum

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<a href="https://u.today/ancient-ethereum-whale-suddenly-wakes-up-after-many-years">Ethereum</a> traders are spotting what might be a harbinger of stormy weather ahead. A technical analysis of the ETH chart reveals the potential formation of a double top pattern, a classic bearish reversal indicator that could send <a href="https://www.tradingview.com/">Ethereum's price</a> diving deep once more.
The double top pattern is characterized by two consecutive peaks at approximately the same price level, separated by a moderate trough. This pattern suggests that the bullish momentum is waning, and the bears may be ready to take control. For Ethereum, the stakes are high as it approaches a critical resistance level set on Jan. 12. The ability to break through this ceiling is paramount for <a href="https://u.today/cardano-ada-secures-crucial-breakthrough-ethereum-eth-breaks-new-high-solana-sol-on-verge-of">ETH</a> to maintain its upward trajectory.
<img alt="ETHUSD" data-entity-type="file" data-entity-uuid="b0d8d69a-09e6-47ee-aee6-c00c2b609168" src="https://u.today/sites/default/files/inline-images/image_478.png"><a href="https://www.tradingview.com/">ETH/USD Chart by TradingView</a>
As Ethereum approaches this pivotal point, the descending volume accompanying the recent price increases adds to the sense of impending reversal. In technical analysis, a rise in price coupled with falling volume can often signal a lack of conviction among buyers, suggesting that the rally may not be sustainable.&nbsp;
If the market cannot muster the volume needed to push past the January resistance, the likelihood of confirming the double top pattern increases significantly.
Should <a href="https://u.today/ethereum-whale-goes-all-in-on-eth-in-brave-move-as-price-skyrockets">Ethereum</a> fail to breach the Jan. 12 resistance, the asset may retreat to the next substantial threshold at $2,500. This price level represents a psychological and technical support zone that has previously acted as both a springboard for rallies and a cushion during corrections. A fall to this level would be a significant retracement from recent highs, and it could trigger further bearish sentiment on the market.
The current chart pattern and volume indicators serve as a warning. While the double top has yet to be confirmed, the signs are there, and caution is advised. A breakout above the resistance will invalidate the bearish outlook, or a confirmation of the double top with a break below the trough between the peaks.

Dangerous Ethereum (ETH) Pattern Appears

U_Today

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