Based on the current price action on ETH we can start expecting short sellers to regain a strong hand on the market. We may expect a few wicks or fakeouts (above 1285's) to trap the bulls which will be followed by a mark down to retest lower levels (1020's and ideally 720's).
The bearish sentiment remains for ETH until 1765's level is flipped.
Similarly to BTC, ETH is currently pushing back its last mitigated OB before initiating the new lows within the current range. Considering the following sentiment and price action lower lows can be expected in the upcoming days and weeks.
Stay safe and never risk more than 1-5% of your capital per trade
The following analysis is merely a price action based analysis and does not constitue financial advice in any form.
The bearish sentiment remains for ETH until 1765's level is flipped.
Similarly to BTC, ETH is currently pushing back its last mitigated OB before initiating the new lows within the current range. Considering the following sentiment and price action lower lows can be expected in the upcoming days and weeks.
Stay safe and never risk more than 1-5% of your capital per trade
The following analysis is merely a price action based analysis and does not constitue financial advice in any form.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.