Market analysts warn of a possible significant bear trap for Ether this September.
The predicted scenario involves an increasingly deep correction that could form a bearish head and shoulders pattern, which would seemingly invalidate the bullish thesis.
However, this move is expected to be the prelude to a strong trend reversal. Trader Johnny Woo suggests that this could be "the biggest bear trap I’ve ever seen," with the bearish structure expected to be invalidated in October.
The technical outlook points to a decline to key support near $3,350 in September, followed by a recovery in October and a possible push to a new all-time high in November.