Bloomberg: Ethereum Price Forecast: ETH could decline to $2,300 if it validates triple top pattern Ethereum is down 3% on Tuesday following $76.23 million in ETH futures liquidations in the past 24 hours. Liquidated long and short positions accounted for $64.48 million and $11.75 million, respectively. ETH appears to have posted a triple top pattern after seeing a rejection near an ascending trendline and declining below the $3,400 key level.

ETH/USDT 4-hour chart If ETH validates the pattern by declining below the $3,000 support level, it could find support near the $2,817 key level, which buyers have defended for nearly four months — April through July. A decline below the $2,817 level will send ETH to find support near the $2,300 level, a historically high demand zone. The Relative Strength Index (RSI) is declining and testing its neutral level midline, indicating rising bearish momentum. A candlestick close above the ascending trendline will invalidate the thesis.