ETH is looking like it is making a head and shoulders pattern on the hourly chart. The neck line region may provide support between 4150 and 3990 (happens to be confluencing with the 61.8 fib level of the last move). However, a break below that region could signal prices heading lower down to the ~$3500 range.
The RSI is also showing a bearish diversion.
ETH would need to make a new higher high to invalidate this idea.
The RSI is also showing a bearish diversion.
ETH would need to make a new higher high to invalidate this idea.
Comment:
The $3500 target has now been met.