ETHEREUM VS US DOLLAR – Trend Break or ContinuationEthereum / US DollarCOINBASE:ETHUSDLissa_BlairETHEREUM VS US DOLLAR – Trend Break or Continuation? 🧠 Market Structure & Context This chart clearly demonstrates three distinct phases of price action: 1. Accumulation Phase (~$2,170–$2,280): A period of sideways consolidation with relatively low volatility. Price traded in a tight range, building up liquidity. 2. Breakout & Trend Reversal (~$2,280–$2,680): A clean breakout led to a rapid rally toward the $2,680 supply zone. The rejection from this level formed the recent swing high, followed by a series of lower highs. 3. Bearish Breakdown & Current Phase (~$2,680–$2,195): Price broke key support and initiated a strong downward trend, confirmed by the descending trendline and consistent lower lows. A recent bounce from the $2,160–$2,195 support zone is underway, testing prior resistance. --- 🔍 Key Technical Features Trendline Resistance: Price is testing a descending resistance line that has capped all recent bounce attempts. A breakout here could trigger a short-term trend reversal. Rejection Zone (~$2,280–$2,300): Strong horizontal resistance coupled with the trendline. Watch this confluence zone for a reaction — it’s crucial for bulls to reclaim. Demand Zone Highlighted (~$2,160–$2,195): This level has provided support multiple times and forms the current key structure floor. A clean break below could invite a larger correction. Potential Reversal Pattern: The blue curved arrow suggests an inverse head and shoulders or rounded bottom formation in development — signaling possible bullish intent. --- 🔮 Scenario Forecast 1. Bullish Case (if price breaks above $2,280–$2,300): Target 1: $2,360 (minor resistance) Target 2: $2,440–$2,480 (previous supply zone) Confirmation would come from a close above the trendline + horizontal resistance 2. Bearish Case (rejection from $2,280–$2,300 zone): Price likely retests $2,195 A break below this support opens downside toward $2,100 and $2,050 --- 🛠 Unique Insights The use of Ichimoku Cloud adds confluence to resistance zones. The highlighted zones of supply and demand are well-placed and visually clean.