According to crypto analyst @moonshot, a humorous chart shared on social media depicts a severe market price drop, with the technical analysis pattern forming the distinct shape of a car. The post is ironically captioned with the popular spam call meme, 'We’ve been trying to reach you about your car’s extended warranty,' which traders interpret as a metaphor for a catastrophic price crash. This visual representation serves as a stark, albeit humorous, warning about strong bearish sentiment and the potential for significant and unexpected downturns in the market.

According to Miles Deutscher, the TOTAL3 chart, which represents the total cryptocurrency market cap excluding Bitcoin and Ethereum, may have formed a double top pattern. This pattern is often seen as a bearish signal, indicating a potential reversal in the market trend. Traders should monitor this development closely as it could suggest a forthcoming decline in altcoin prices. The analysis is based on the chart pattern observed by Deutscher.

According to Trader Tardigrade, Ethereum (ETH) has formed a Double Bottom chart pattern, indicating a potential bullish reversal with a target price of $7,700. This pattern is often seen as a bullish indicator, suggesting a significant upward movement in price, which could benefit traders looking to capitalize on this uptrend in the cryptocurrency market.