Upon closer analysis, it is evident that the price was unable to breach the resistance zone and experienced a sharp decline of 10% in value. This suggests that the market lacks sufficient momentum to sustain its upward trajectory, particularly in the short term. Should the price fall below the HKEX:1900 threshold, a drop to $1700 is highly probable, and should it breach $1700, a further decline to HKEX:1500 is likely.
As a result, it is advisable to closely monitor the HKEX:1900 level, as a break below it may result in substantial downward pressure. Moreover, as BTC's performance can impact that of ETH, it is prudent to observe BTC's movements before making any decisions concerning ETH. ------------------------------------------- About our trades: Our success rate is notably high, with 10 out of 11 posted trade setups achieving at least their first target upon a breakout price breach (The most on TW!) . Our TradingView page serves as a testament to this claim, and we invite you to verify it!