Ethereum dumped from just below our level in the $4200's, just above our level of support at $3646. We have given up the $4K handle, which we warned you about yesterday. ETH has tested the $3K handle three times this month, and we noted that the more comfortable it gets testing this level, the more comfortable it is breaking it. Previously, ETH was able to recover the $4K's with a quick bounce, but now it looks comfortable feeling it out. Prepare for some pain if you bought at $4100 or $4200. We do appear to be seeing a small bull wedge forming, but it will take some momentum to get us back to $4K. Further support levels from below include $3563, $3473, and $3416. We anticipate a floor of $3200 for now.
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