Ethereum Gives Up $4K's!! 😱📉
Ethereum broke down from the 
4K handle to its comfort zone in the upper 3K handle. We were holding a narrow range between $4020 and $4140 (which we have identified as a new technical level). Trading was choppy, weak, with low liquidity. Moreover we were ranging for some time, and when the markets don't want to rally with you, they are probably consipiring to move against you. That was the case this time, as it has been in many cases before. We found support just above our technical level at $3861, as confirmed by a green triangle on the KRI. If the selloff continues, there is a vacuum zone down to $3646. But Eth is likely to gain footing in the upper 3K handle for now as it finds value in this range.
4K handle to its comfort zone in the upper 3K handle. We were holding a narrow range between $4020 and $4140 (which we have identified as a new technical level). Trading was choppy, weak, with low liquidity. Moreover we were ranging for some time, and when the markets don't want to rally with you, they are probably consipiring to move against you. That was the case this time, as it has been in many cases before. We found support just above our technical level at $3861, as confirmed by a green triangle on the KRI. If the selloff continues, there is a vacuum zone down to $3646. But Eth is likely to gain footing in the upper 3K handle for now as it finds value in this range.
Join my discord at discord.io/quantguy
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.