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Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern -Breaking

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Ethereum at risk of 25% crash, as ETH prices form classic bearish technical patterns

Ether is Ethereum’s native currency (ETHAs it creates a convincing “bear pennant”, structure, ), looks set to go through a major breakdown in May.

The price for Ethereum was ConsolidatingThe range around May 11 is defined by two converging tendlines. The sideways movement coincides with an increase in trading volume, supporting the idea that there is a bear pennant.

Two-hour chart of the Ethereum/USD exchange rate. TradingView
Weekly chart of the ETH/USD exchange rate. TradingView
The correlation coefficient of Ethereum with tech-heavy stands at 0.90. Source: TradingView