ETHUSD - Bearish Breakout from Ascending Channel

On the 4H chart, ETH/USD has broken decisively below a long-standing ascending channel as well as the critical support zone at $2447.81. This breakdown indicates increased bearish pressure after a prolonged sideways movement between dynamic resistance and support.

The price is currently trading below both the trendline and previous horizontal support, confirming a bearish shift in market structure.

Key Levels:

Resistance 1: $2447.81

Resistance 2: $2554.91

Support 1: $2310.72

Support 2: $2180.05

Scenario:
If this bearish momentum persists, I expect the price to continue toward Target 1: $2310.72 and potentially extend to Target 2: $2180.05.

However, if price reclaims $2554.91, this bearish view would be invalidated, and we may see a shift back toward the upper range.

This setup offers a clean risk-to-reward profile with clearly defined invalidation and targets. Always manage your position size and risk accordingly.