ETH/USDT 1H Chart: Breakout on the Horizon?

Hey Ethereum traders! Let’s dive into this 1-hour ETH/USDT chart.
I didn’t manage to post in time, and ETH has made its move — unfortunately, it’s not the one we hoped for!

We had a classic triangle forming, with ETH consolidating between converging trendlines. The price was sitting around $1,803.65, teasing the daily high resistance at $1,842.89. I thought about a potential breakout toward the weekly high of $1,864.20, but instead, ETH broke below the triangle’s support line!

Now that the breakdown has happened, we’re likely heading toward the weekly low at $1,754.28, or even the breakdown target of $1,691.30.



Key Levels to Watch:
Resistance: $1,842.89 (daily high), $1,864.20 (weekly high)
Support: $1,780.47 (daily low), $1,754.28 (weekly low)
Breakdown Target: $1,691.30

The bears have taken control for now — where do you think ETH is headed next? Let’s discuss below!