We just saw today a quick sweep down to $1.989, and even though we're trying to bounce, the $2,000 level feels incredibly heavy. The biggest red flag on the 1H chart is how our old historical support at $2,140 has completely flipped into a ceiling. Every time we try to move up, we get rejected with high sell volume. If we don't reclaim $2,040 soon, there isn't much standing in the way until we hit $1,920. Watching the volume closely, either we find some strength here, or we’re heading for a deeper retest. Stay safe.
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$ETH is playing with fire right now.
We just saw today a quick sweep down to $1.989, and even though we're trying to bounce, the $2,000 level feels incredibly heavy.
The biggest red flag on the 1H chart is how our old historical support at $2,140 has completely flipped into a ceiling.
Every time we try to move up, we get rejected with high sell volume.
If we don't reclaim $2,040 soon, there isn't much standing in the way until we hit $1,920.
Watching the volume closely, either we find some strength here, or we’re heading for a deeper retest.
Stay safe.