ETH - Rising Wedge BreakdownEthereum / TetherUSBINANCE:ETHUSDTVIAQUANTThis is an updated chart from my previous post: Although BTC has yet to make a confirmed bounce or breakdown decision, ETH is already telling a different story. Why the $2,150 Level Has Been So Critical To understand the full context of how this trend has developed, we need to look back at how this structure has unfolded over time. The $2,150 level has been an extremely important level for many years and has once again played a pivotal role in ETH's current market structure. Since ETH broke below $2,150 on February 4th, sellers have used it as the primary range high meaning every time price rallied to that level, sellers would offload and enter short positions, preventing any 6H or higher timeframe candle from closing above it. On March 15th, that changed. ETH printed its first major candle body close above this level with a daily close at $2,178. Upon that confirmation, ETH saw a massive single-day rally toward $2,400, creating what I have labeled on the chart as a "Range Deviation" above the rising wedge. However, that $2,400 high was no coincidence. In a previous post, I outlined the first breakout target for ETH at the 1.618 extension of its current trend at $2,397. Check it out: Upon reaching that target, buyers took profits and price began declining. Once ETH broke back into the rising wedge structure, it gave a clear bearish reclaim signal by retesting the top of the rising wedge as continued resistance before resuming the decline. Once ETH broke back below $2,150, nearly every key candle closed beneath that level. This is what I have labeled as "Range Reclaim" meaning the $2,150 range high has been fully reasserted and further downside should follow. The Breakdown Is Now Confirmed With price trading back inside its established range, I have been watching for ETH to deliver the next major signal, and it just has. ETH has broken below the rising wedge structure and confirmed the breakdown on the 4H with a retest. This means ETH should now be heading toward breakdown target #1 around $1,940 and breakdown target #2 around $1,820. At those levels, I will reassess and provide further downside targets if needed. The reason I flag this is that I have been expecting some form of black swan event to accelerate this phase of the bear cycle and with what is currently unfolding in the Middle East, that catalyst could arrive as soon as Monday depending on how events develop. RSI – Momentum Has Shifted to the Bears For an extended period, I have been tracking ETH's bullish momentum on the 4H RSI via the green upward trendline, a signal I highlighted consistently across multiple posts. In each of those updates, I noted that ETH was still maintaining upward momentum on the RSI. That has now changed. ETH has broken down from its momentum trendline and retested it as new resistance. This confirms that momentum has officially shifted in favor of the bears. Given that this momentum shift is occurring simultaneously with the rising wedge breakdown, this is an extremely powerful confluence signal.