Ethereum is struggling in the descending channel.
Bad new right now is the fact that the price never made it to the 1240 which is the top of the channel to attempt a breakout.
Given the newly bearish-looking formation the price seems more probable to aim for 1150 or even 1065.
News:
Drainer Dump: the attacker who purportedly drained FTX wallets dumped a significant portion of their accumulated ETH and traded it for Bitcoin.
Bad whale move: A "whale" address moved 73,224 ETH, worth $85.7 million, to Binance during the Asian trading hours
(WETH) Insolvency FUD: Ethereum Insiders Settle Wrapped Ethereum
Professor's comment:
When i hear a lot of bad news i like to buy...but not when the chart is like this!
I would prefer to attempt Long positions 1241 or lower (1150 or 1063)
One Love,
The FXPROFESSOR
Bad new right now is the fact that the price never made it to the 1240 which is the top of the channel to attempt a breakout.
Given the newly bearish-looking formation the price seems more probable to aim for 1150 or even 1065.
News:
Drainer Dump: the attacker who purportedly drained FTX wallets dumped a significant portion of their accumulated ETH and traded it for Bitcoin.
Bad whale move: A "whale" address moved 73,224 ETH, worth $85.7 million, to Binance during the Asian trading hours
(WETH) Insolvency FUD: Ethereum Insiders Settle Wrapped Ethereum
Professor's comment:
When i hear a lot of bad news i like to buy...but not when the chart is like this!
I would prefer to attempt Long positions 1241 or lower (1150 or 1063)
One Love,
The FXPROFESSOR
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