ETH Lower Highs Downtrend
The consistent pattern of lower highs and lower lows in Ethereum's chart structure is working against buyers.
Too little corroboration in the last 3 days to call a trend (2 articles). Watching for it to gain traction.
Sources describe Ethereum suffering consecutive sessions of weakness, with a bearish rounding-top pattern forming on the chart and renewed selling pressure building toward a potential test of the $1,650 level. The technical structure of progressively lower highs and lower lows suggests buyers are failing to reclaim momentum at each recovery attempt.
When an asset establishes a persistent pattern of lower highs and lower lows, it tends to suppress risk appetite among momentum-driven and technically oriented traders, reducing the pool of buyers willing to step in ahead of confirmed trend reversal, which can amplify downside moves on relatively modest selling volume.
"Ethereum has weakened for a second straight session as a bearish rounding-top pattern and renewed selling pressure threaten a move toward $1,650. Ethereum's 4-hour chart has formed a bearish rounding-top pattern after the recovery from late June stalled near $1,830."
"The chart structure is also working against buyers. ETH has printed lower highs and lower lows consistently. Every bounce attempt since breaking $2,500 has been capped and reversed."