ETHUSDT Analysis by TheMoonCarl

The chart shows a bearish pattern formation for ETHUSDT on a 1-hour timeframe. A rising wedge is evident, which suggests a potential downside breakout. The price action indicates a recent peak followed by a breakdown through the lower support of the wedge. A projected price drop is indicated with a rectangle down to approximately 3205.00. A failure of this analysis would be indicated by price pushing past the top of the ascending wedge around 3350.00, invalidating the bearish outlook.