Ethereum does not look bullish !

May 3

After the main bearish CH, Ethereum has consistently been forming lower highs and lower lows, and is currently trading below a descending trendline.

Following the SW H formation, the upward corrective moves have been weaker compared to the downward impulses. In other words, the recoveries to the upside are significantly weaker than the drops — just look at the candles.

Price is expected to move from the supply zone toward a major demand area.

Manage your risk properly and wait for a proper trigger before entering trades. Let’s see how the market unfolds.

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What is your opinion about TON?

May 6

Order cancelled

❌ The supply zone in this **ETH** analysis has been engulfed and is no longer valid do not enter short positions