ETH/USD - Bearish price action after failed break of ATH!
ETH failed to break above $4,380 and now its being pushed down towards support... not looking particularly good for bulls in the short term.
Continuation of this pullback may lead to a retest of lower support found around $3,500. For now the support at $3,900 is holding the price. But can it hold longer?
The volume is not encouraging and would suggest we may break the first support level before a new attempt at ATH is made.
Wait for a break of support before taking a position.
Long term ETH should move beyond the current ATH. Just a matter of time. This recent rally was decent enough and a pullback was needed.
Like and follow if you liked this idea!
Continuation of this pullback may lead to a retest of lower support found around $3,500. For now the support at $3,900 is holding the price. But can it hold longer?
The volume is not encouraging and would suggest we may break the first support level before a new attempt at ATH is made.
Wait for a break of support before taking a position.
Long term ETH should move beyond the current ATH. Just a matter of time. This recent rally was decent enough and a pullback was needed.
Like and follow if you liked this idea!
📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Related publications
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.