Ethereum sold off massively during the height of the market reaction to Russia's invasion. We tested lower levels in the $2K's before rebounding and retracing all of our losses, back to the mid $2K's, at $2651. We do appear to be feeling out a value area between $2556 and $2762. It does look like we may be forming an inverse head and shoulders with a neckline at $2762. If that is the case, we may anticipate a rally back to $2852 or even an attempt for the $3K's again. If not, we could potentially test lows at $2324, but will likely see support before that at $2556, or $2454.
Join my discord at discord.io/quantguy
Related publications
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.
Join my discord at discord.io/quantguy
Related publications
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.