- Just like BTC, ETH has seen a very nice rally from the bottom (local)
- Unlike BTC who is holding its trendline so far, ETH has already broken below it and seem to be already starting to roll over
- This could be an early indicator of what is to come for BTC
- We can clearly see that this resistance OB has proven to be a tough nut to crack as it has been rejected 3 times now
- The argument can be made that another test could be the one to break past but we could see a move lower before that retest
- Next level of support is the strong OB right below but if BTC does tumble, the more interesting levels are $110 and then $105
Thanks guys!
Comment:
We can seet that ETH dipped right into the demand zone around $113 and has since been defended by bulls. We need to get back above $119 soon or sellers might overwhelm buyers here