Ethereum Dips, Breakout Soon??

14 בינו׳ 2022

Ethereum faced a sharp selloff as it edged up to the mid 3K handle. We made several attempts to break through $3416, a level we have identified here. But several red triangles on the KRI confirmed resistance and we swiftly sold off from there. The rally was looking technically weak, and we mentioned that many times in our reports. We sliced through the next support level at $3324, and are currently testing $3200. This seems to be a strong pyschological and technical level, and was a former target of ours to accumulate a position. If support does not hold at current levels, watch for ETH to press lower in the 3K's. Also watch the vacuum zone between current levels and $2965, which has been tested twice already.