CryptoQuant analyst: Ethereum technicals confirm a bearish structure, downside risk points to $1,350
According to ChainCatcher, CryptoQuant analyst PelinayPA stated that Ethereum’s price has broken below its triangular pattern, combined with moving averages starting to slope downward, confirming a bearish technical structure.
Although breaking below the triangle alone is not enough to fully confirm a bear market, short-term moving averages have remained below long-term ones, indicating continued weakening momentum. Data on leveraged liquidations from an exchange shows that a large number of long positions have been liquidated, the market is undergoing a downward reset, and there is a lack of strong rebound.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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