$ETHU Update: The Bullish Pennant May Still Be Intact

jfsrevg
08-31 07:03

A quick update on $Volatility Shares 2x Ether ETF(ETHU)$ / $ETHUSD.

One technical detail worth watching is that a short-term breakdown from a bullish flag or pennant does not automatically invalidate the broader setup — especially when the move is driven by a single sharp red day.

What matters more is what happens after the breakdown.

If the rate of decline begins to slow and price starts forming a sequence of higher lows, that can signal that buyers are gradually stepping back in and attempting to regain control.

That’s exactly what I’m watching here. 👀

For now, I’m still treating the broader $ETHUSD bullish pennant structure as intact. The key is whether ETH can continue building higher lows and reclaim the levels lost during the initial breakdown.

⚠️ No setup is guaranteed. I’m watching the follow-through rather than reacting to one red candle.

Let’s see how ETH develops from here. 🚀

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