$ETH This 4-hour candle has some interesting action. It poked as high as 2522 but got pushed back to 2461—range was about 60 dollars up and down. It looks lively, but the actual trading volume was $8.48 billion, which is almost a 10% drop compared to the previous candle. Bulls and bears both seem hesitant around the 2500 area.
The candle closed with a long upper wick, which suggests there wasn’t any real follow-through when price pushed higher. The 2460 level was tested three times today and held without breaking, so for now it can be considered a floor. But if it breaks below the prior low at 2452, things will look ugly. Place your stop-loss below 2450. First, look for a bounce toward 2495; if it rises with volume and holds, then we can reassess for a move above 2530.
Right now, are you watching whether 2460 can hold, or waiting for a breakdown before you take action? Let’s discuss in the comments 👀
#ETH
The candle closed with a long upper wick, which suggests there wasn’t any real follow-through when price pushed higher. The 2460 level was tested three times today and held without breaking, so for now it can be considered a floor. But if it breaks below the prior low at 2452, things will look ugly. Place your stop-loss below 2450. First, look for a bounce toward 2495; if it rises with volume and holds, then we can reassess for a move above 2530.
Right now, are you watching whether 2460 can hold, or waiting for a breakdown before you take action? Let’s discuss in the comments 👀
#ETH