Ethereum has tumbled into the low $3K handle, giving up hopes that we could break out from a bull wedge pattern and test $4K's again. We have sliced through all of our levels in the mid $3K's, but appear to be finding support at $3324, confirmed by a green triangle on the KRI. If so, anticipate Eth to form value in this new price territory, with $3414 and $3473 to provide resistance if we see a relief rally. If the bleeding continues, then $3200 is the next psychological and technical level to provide support, which is exactly where our sights are set to load up on a long position. Both Kovach momentum indicators are bearish, which may suggest that we are encroaching on oversold territory and due to find support soon.
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