Hammer reversal rejected as 
ETH drops to a low of ~3050; not a huge surprise to carry out third red on the daily.
Seems we could still be within range for a possible recovery (see 1/06 post) as essentially we didn't break 3k. H4 MACD and Chaikin have potential momentum to cross zero with major resistance around 3400 (neckline) -> 3600.
Highlighted zone represents support/resistance testing. A dip and close below this level would be my signal to sell with the hope of buying back around 2750-2800.
ETH drops to a low of ~3050; not a huge surprise to carry out third red on the daily.Seems we could still be within range for a possible recovery (see 1/06 post) as essentially we didn't break 3k. H4 MACD and Chaikin have potential momentum to cross zero with major resistance around 3400 (neckline) -> 3600.
Highlighted zone represents support/resistance testing. A dip and close below this level would be my signal to sell with the hope of buying back around 2750-2800.
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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.