$ETH has now reached the major resistance zone I highlighted back in June, making this a key area to watch.
From my perspective, the rebound still looks like a corrective three-wave move rather than the start of a new bullish trend, so I'd remain cautious for now. As long as price holds the 1,600-1,787 support zone, the recovery scenario remains valid.
If that support gives way, I'd expect the next downside target around 1,400, followed by the 1,100-1,060 region.
For now, I still believe the broader bear market structure remains intact.
#GoldBreaksOutFromJanuaryDowntrend
From my perspective, the rebound still looks like a corrective three-wave move rather than the start of a new bullish trend, so I'd remain cautious for now. As long as price holds the 1,600-1,787 support zone, the recovery scenario remains valid.
If that support gives way, I'd expect the next downside target around 1,400, followed by the 1,100-1,060 region.
For now, I still believe the broader bear market structure remains intact.
#GoldBreaksOutFromJanuaryDowntrend