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.
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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!
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