ETHEREUM → Countertrend correction. The hunt for liquidity

ETHUSDT is testing the downward trend line and attempting to break through the resistance conglomerate. Overall, against the backdrop of low liquidity, the market has the opportunity to test 3245...



Against the backdrop of low liquidity and without the presence of the American side in trading, ETH is testing the downward line of the local trend. A medium-term downtrend is forming in the cryptocurrency market. There is no strong fundamental support, and after the correction, the decline may continue. Any attempts at growth at this point can be seen as an opportunity to sell profitably...
A breakout is forming and an attempt is being made to keep the price in the long zone. If the bulls keep the price above 2897 after retesting support, the price is likely to strengthen to the resistance range of 3245... However, a false breakout (liquidity capture) of key resistance may remind the market of the relevance of the downward trend...

Resistance levels: 3000, 3245
Support levels: 2987, 2863

I expect two movements. If the price stays above 2987 (after retesting), then Ethereum will be able to retest the resistance of the range. A false breakout of the resistance range could trigger a price decline within the global downtrend that has been developing for 3 months...

Best regards, R. Linda!