If you recall from yesterday's post, I said "As you can see, there is a ton of overhead resistance, just above the current price action. We have the 200 (in purple,) the 50 (in orange,) the 38.2% retraced, the top of the , and the blue which is the neckline of the pattern." looking at the chart today, we can see that the aforementioned overhead resistance proved to be fatal, and is sending ETH lower. Furthermore, we have a crossover now, on the , an increase in sell-side , and a death cross of the 50 and 200 EMAs. The technical implications of the death cross are negligible, but it's just an interesting development to note, which indicates a significant decline in the recent price action of ETH.
Overall, the next downside target is the 61.8% retrace, around $775. Below that, ETH could find some support around $665.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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I see a reversal to the upside around 600 with my analysis . Here's the idea: