ETH|4-hour chart shows a falling wedge pattern breaking down; the price has already broken below the lower trend line. This is a typical bearish continuation pattern. OBV volume is also moving lower in sync, and there are no clear signs of a bottoming out on the market!
Look to take positions around 2460-2430, with strong resistance at 2565!
Support: 2355. If it is convincingly broken, the next target is 2274.
Trading approach: Prefer going short on rallies under pressure; do not blindly bottom-pick!
Look to take positions around 2460-2430, with strong resistance at 2565!
Support: 2355. If it is convincingly broken, the next target is 2274.
Trading approach: Prefer going short on rallies under pressure; do not blindly bottom-pick!
