Ethereum Evening Trend Observation:

Ether’s recent performance was decent; it didn’t follow Bitcoin to test the previous low, which is commendable. But don’t get too excited yet—there’s still a risk of a delayed drop.

Currently, Ether is stuck in a triangle consolidation pattern—the lower boundary holding is a good sign, but it just can’t break above 3183, and the upward momentum isn’t kicking in. What’s more troubling is the emergence of an M-top pattern inside the triangle, with the neckline right at 3118, which is also the lower boundary of the triangle. If this level breaks down, the M-top is confirmed and there’s room for further decline. On the flip side, if Ether can break through the 3183 neckline, a W-bottom pattern could form, giving more potential for a sustained rally. Now it all comes down to which direction Ether chooses to break out.

Once the direction is clear, just follow the trend.

Trading strategy for reference: If Ether breaks above 3140 with volume, you can go long on the right side; if 3118 breaks down with volume, go short on the right side. Keep a close eye on volume changes and make sure to set a stop-loss.

On the hourly chart, if Ether holds above 3183, the upside targets are 3220–3270. If it can’t hold above 3183, don’t expect the uptrend to continue. On the 4-hour chart, if it breaks below 3116, look for downside targets at 3064–3000, and breaking 3116 means even the previous low of 3064 might not hold.

One last reminder: On the 4-hour chart, make sure Ether does not close with an evening star pattern—if that happens, the 4-hour downtrend will have just begun.