$ETH Update
#ETH has finally broken below the lower boundary of the current range around $2,640, after spending almost two weeks consolidating between $2,640–$2,780.
This is important because we saw a similar range structure before. ETH previously consolidated around $2,390–$2,550, broke out strongly, and moved into the current higher range.
Now the opposite is happening.
After losing $2,640, ETH has dropped toward $2,560, and the key thing to watch is whether the old range support turns into resistance.
If ETH retests $2,640–$2,680 and gets rejected, I’d expect the downside to remain in focus, with $2,550 as the first area to watch, followed by the lower support zones around $2,500–$2,450.
If ETH quickly reclaims $2,640 and gets back inside the range, this breakdown could turn into a fakeout.
For now, the range has broken to the downside. I’m watching the retest of $2,640 closely. #Altcoin Season# #BNBChain# $USDT
#ETH has finally broken below the lower boundary of the current range around $2,640, after spending almost two weeks consolidating between $2,640–$2,780.
This is important because we saw a similar range structure before. ETH previously consolidated around $2,390–$2,550, broke out strongly, and moved into the current higher range.
Now the opposite is happening.
After losing $2,640, ETH has dropped toward $2,560, and the key thing to watch is whether the old range support turns into resistance.
If ETH retests $2,640–$2,680 and gets rejected, I’d expect the downside to remain in focus, with $2,550 as the first area to watch, followed by the lower support zones around $2,500–$2,450.
If ETH quickly reclaims $2,640 and gets back inside the range, this breakdown could turn into a fakeout.
For now, the range has broken to the downside. I’m watching the retest of $2,640 closely. #Altcoin Season# #BNBChain# $USDT
