Third day in a row: $ETH traded under 2,400 and closed above it.
- Thursday: low 2,318, close 2,442
- Friday: low 2,393, close 2,424
- Saturday: low 2,357, close 2,402.82
Yesterday I called this a floor in progress. It still is, but it's getting thinner. Saturday closed less than 3 points above the line, and its high of 2,441.66 was the lowest daily high in 30 days.
Volume also fell each day: 1,065M, 685M, then 311M USDT. Fewer traders are fighting over the level.
My lines haven't changed. A daily close under 2,318 breaks the floor. A close above 2,500 is the first real sign of a bounce. Price now is 2,406.
NFA. How many more tests can 2,400 take?
#ETHDropsBelow2400USDT
- Thursday: low 2,318, close 2,442
- Friday: low 2,393, close 2,424
- Saturday: low 2,357, close 2,402.82
Yesterday I called this a floor in progress. It still is, but it's getting thinner. Saturday closed less than 3 points above the line, and its high of 2,441.66 was the lowest daily high in 30 days.
Volume also fell each day: 1,065M, 685M, then 311M USDT. Fewer traders are fighting over the level.
My lines haven't changed. A daily close under 2,318 breaks the floor. A close above 2,500 is the first real sign of a bounce. Price now is 2,406.
NFA. How many more tests can 2,400 take?
#ETHDropsBelow2400USDT