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quantmaven
May 22, 2021 2:54 PM

2500 is a key resistance to watch (part 2) Short

Ethereum / U.S. dollarBitstamp

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As I said earlier, the 2500 resistance must be breached soon to mark the end of this downtrend. However Ethereum is still up as much as 220% YTD at the current price level and still has tons of room to fall from here. I would still put the odds at 80% downside scenario vs 20% upside scenario from here. Another reason why I favor the bear case, it's because price rose from the 2100 bottom made yesterday's evening in the shape of a 3-3-5, that's not very bullish...
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