Ethereum Gives Up $3K Again!! 😱📉
Ethereum tested our level at $3200, making a concerted attempt to break out to test the head of our head and shoulders pattern at $3324. However, this provided prohibitive resistance, and we subsequently sold off. We predicted this would happen yesterday, as $3200 appeared to form a double top. We sold off all the way back to $2965, then $2852, exactly as we had predicted. We are currently in the previous value area between the aforementioned levels. The Kovach OBV has dumped and we have given up the 3K handle, which are not strong signs for bulls. However, if we see a burst of momentum, then $3042 is the next target if we can break $2965 again. However, based on the current price action, $2965 seems like a ceiling for now. If we selloff and break $2852, then $2762 should provide further support.
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