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Ethereum (ETH/USD) continued its decline, breaking below $2,623.77 and testing the second key support at $2,545.00, which corresponds to the breached neckline of a double bottom pattern visible on the chart. Holding above this support level keeps the bullish potential of the pattern intact, with an anticipated upward move targeting the $2,905.28 area.
Thus, the bullish trend remains favored for the near term. However, a break below $2,545.00 would invalidate this outlook, leading to a potential decline.
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The expected trading range for today is between $2,460.00 support and $2,720.00 resistance.
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Trend Forecast: Bullish
