I believe that this might be a start of a bearish movement.
Weekly candle closing below the 1660 USD is an indication of a start of a down trend for Ethereum and the next important level would be around the 1100 - 890 USD.
I recommend waiting on the monthly candle closure to confirm the above statement. It is always possible that this is a fake break out and Eth can recover from here (again on a monthly observation).
Let us wait for now
Weekly candle closing below the 1660 USD is an indication of a start of a down trend for Ethereum and the next important level would be around the 1100 - 890 USD.
I recommend waiting on the monthly candle closure to confirm the above statement. It is always possible that this is a fake break out and Eth can recover from here (again on a monthly observation).
Let us wait for now
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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.