The bearish setup appears amid growing divergence between the Ether price and momentum.
Ethereum price risks losing $4K on ‘rising wedge’ breakout fears
The potential price decline would also mark Ethereum’s return to its Ascending Channel support.
Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%
The sharp bounce back in the Avalanche market still faces risks of exhaustion as the price forms a bearish wedge setup.
Cardano chalks a bearish wedge as ADA price soars by over 100% in Q3
The bearish outlook appears also as Cardano’s daily RSI reflects overbought sentiments. However, the euphoria surrounding Cardano’s smart contracts launch and its mild correlation with Bitcoin are keeping the upside hopes intact.