ETH/USD Outlook: Bears Target $1,840 After Resistance RejectionEthereum / US DollarCOINBASE:ETHUSDEA_BOT_Trader_00 Market Structure Ethereum has respected a well-defined ascending trendline, producing a series of higher highs and higher lows. After reaching the 1,940–1,950 resistance zone, buyers lost momentum and sellers pushed the price back toward trendline support. The current reaction around this trendline is likely to determine the next major move. Key Levels Resistance 1,940–1,950 (green supply zone) Strong resistance where the recent rally stalled. First Support 1,840 Initial downside target if the ascending trendline breaks. Major Support 1,750 Strong demand zone and the next key level if selling pressure accelerates. Price Outlook Ethereum is at a pivotal technical level. A confirmed break below the rising trendline would signal that short-term bullish momentum is weakening. Primary Scenario Price breaks below the ascending trendline. Decline toward 1,840. If sellers remain in control, the correction could extend toward 1,750. This aligns with the bearish projection shown on the chart. Bullish Alternative The bearish outlook would weaken if Ethereum: Holds above the ascending trendline. Reclaims 1,930–1,940 with strong buying momentum. Breaks above the recent swing high near 1,950. A confirmed breakout could open the way for another leg higher. Trading Plan Bearish Setup Wait for a confirmed close below the trendline before considering short positions. Initial target: 1,840 Extended target: 1,750 Bullish Setup Watch for a strong bullish reaction from the trendline. A breakout above 1,950 would invalidate the immediate bearish scenario and favor continued upside. Overall Bias Short-term: Bearish while trading below the recent high. Medium-term: Neutral to bullish unless 1,750 is broken. Key level to watch: The ascending trendline. A decisive break could trigger a correction toward 1,840, with 1,750 as the next major support.