Ethereum Tests Lows

Jun 7, 2022

Ethereum has sold off from the low $1900's to support in the low $1700's. The fact that it could not even test the 2K's again is a testament to its weakness. We saw a nice rally at the end of the weekend, which got swiftly smacked down to support at $1717, where we are currently wavering. There is an obvious lack of buying interest at these lows, suggesting we will need to wait for another dump or a serious rally in stocks to see any bids. The Kovach OBV is has flatlined, so anticipate ranging to continue with strong support from the $1700's and resistance in the $1900's.