In our last Ethereum analysis, we identified the ascending correction (red trendlines). Price broke down out of that ascending correction and broke the major ascending trendline (black). We are now possibly seeing a retest of the ascending trendline and a double top, indicating further weakness. We could potentially go back down to test one of the structures where we can look for buys.
Brief retracement - $2900 level
Deeper retracement - $2400 level
Brief retracement - $2900 level
Deeper retracement - $2400 level
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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.