While Ethereum looks bullish over the longer term, price would need to break above the two lines of resistance for the chart to stay bullish.
If price rejects here, we risk a double top which would send price back to the low $2000s.
I'm leaning towards a rejection as the base case here as sentiment is pretty extreme to the bullish side.
Let's see what happens over the coming weeks.
If price rejects here, we risk a double top which would send price back to the low $2000s.
I'm leaning towards a rejection as the base case here as sentiment is pretty extreme to the bullish side.
Let's see what happens over the coming weeks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.