Lower Highs in Ethereum 😧

Jun 8, 2022

Ethereum has tested the lows of the $1700's once again, with a small pivot taking us $1872 where we met immediate resistance, confirmed by a red triangle on the KRI. We are seeing progressively lower highs, from the $2100's down to the $1800's. Ethereum seems more and more comfortable testing the $1700's which several months back would be considered laughable. The fact that we are getting increasingly more comfortable at lows, suggests that we may break down further beofore buying interest reignites. We should see support at $1695, but if that fails, we are clear to test the lows of the $1600 handle or worse. The Kovach OBV is starting to pick up a bit suggesting a slight bull divergence, but we won't be convinced until we can clear and hold at least 2K.