ETH/USD - Bearish price action, can support hold?
ETH presents us with a bearish price action whereby we are forming higher lows, similar to BTC... this makes me believe that unless we break the resistance on this chart, we're likely going back to $1,400 minimum. This would correspond to BTC re-testing 50k as well.
The indicators are rather bearish, with momentum being lost on this push higher and a nasty red 4h candle here... nevertheless, so long we are in this blue apex, price can still go either way as indicated on the chart.
For now I lean on the bearish side. Not really convinced as resistance always pushed us down so far, hence, I expect this to continue on the short term, then maybe in early April we can get a nice rally, to be seen.
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The indicators are rather bearish, with momentum being lost on this push higher and a nasty red 4h candle here... nevertheless, so long we are in this blue apex, price can still go either way as indicated on the chart.
For now I lean on the bearish side. Not really convinced as resistance always pushed us down so far, hence, I expect this to continue on the short term, then maybe in early April we can get a nice rally, to be seen.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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