NEW ETH BEARISH IDEA
ETH has been down for over the past 1year since 11Nov 2021 with highest price of 4868.
The ETH price has been trading down and below falling resistance line up to date, and it is now trading within the range boundaries of 2027 and 1004.
Due to the hawkish expectations from FED and Dollar's strength, we expect price to drop more for about 30-35% of current price, that's 1000, which was last lowest traded price since June 2022.
We expect the ETH to break below support area of 1350 in couple days, after retest we'll hop in market again, Head and shoulder was formed and we expect the closure of candle below neckline also.
ETH has been down for over the past 1year since 11Nov 2021 with highest price of 4868.
The ETH price has been trading down and below falling resistance line up to date, and it is now trading within the range boundaries of 2027 and 1004.
Due to the hawkish expectations from FED and Dollar's strength, we expect price to drop more for about 30-35% of current price, that's 1000, which was last lowest traded price since June 2022.
We expect the ETH to break below support area of 1350 in couple days, after retest we'll hop in market again, Head and shoulder was formed and we expect the closure of candle below neckline also.
