EthereumShort
ETH still in a descending channel
Even though market was able to bounce and some coins like Luna made spectacular gains, ETH has not been able to breakout of its descending channel. There is clear rejection at the channel's resistance and the volume profile's POC.
$2500 is current support and break of that support will send price to the volume gap at around $1900.
Currently price is below the 4H 200ema which makes it technically bearish and to flip bullish it has to break over multiple resistances including POC. RSI is in a descending cone which makes it bearish unless it can breakout now.
$2500 is current support and break of that support will send price to the volume gap at around $1900.
Currently price is below the 4H 200ema which makes it technically bearish and to flip bullish it has to break over multiple resistances including POC. RSI is in a descending cone which makes it bearish unless it can breakout now.
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