Goldilocks is in trouble! The ETH Bears are back!
We had a nice run up on ETH today but we're not out of the woods yet. Currently the 1 day MACD is getting weaker and shifting to negative, and we see an rising wedge forming on the 1 day candles characterized by the decreasing volume and trend lines getting closer. If we fail to make a new high and break below the EMA or sub 305, we could be in for some serious retracement. For further movement upward we would need to see above 335, and 280 is in the cards if we fail.
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