$ETH is testing trader patience on the daily chart.
Momentum remains weak with RSI at 37, a bearish MACD, and price trading 6% below the 50 MA.
Volume has dried up completely, leaving price action stagnant this week.
The key level to watch is the $2,458 POC. Hold above it, and market structure stays intact. Lose it, and we likely revisit lower liquidity pockets.
Right now, the chart says wait for confirmation.
#Ethereum #ETH
Momentum remains weak with RSI at 37, a bearish MACD, and price trading 6% below the 50 MA.
Volume has dried up completely, leaving price action stagnant this week.
The key level to watch is the $2,458 POC. Hold above it, and market structure stays intact. Lose it, and we likely revisit lower liquidity pockets.
Right now, the chart says wait for confirmation.
#Ethereum #ETH