Cryptocurrency analyst Pelin Ay analyzed on X that a bearish signal has been detected on Ethereum's (ETH) daily chart. He explained, "After analyzing recent ETH price movements and Binance's long/short liquidation data, it was found that the market balance has shifted towards selling pressure as the recently formed symmetrical triangle pattern on the daily chart broke downwards. Not only has the lower support of the symmetrical triangle been broken, but the major moving averages are also showing a downward slope, which further supports the bearish scenario. Currently, ETH's short-term moving average is below the long-term moving average, indicating weakened upward momentum, and there's a high probability of encountering selling pressure during a short-term rebound. If ETH fails to recover the $2,140 level, where the lower line of the symmetrical triangle is located, it could fall to $1,350."
