quantguy

More Malaise for ETH

BITSTAMP:ETHUSD   Ethereum
Ethereum has broken support at $2400. We really thought this level would hold but what was once a pennant pattern in the making now might be looking like a bear wedge. Our next level of support is $2232, and we are more confident this will hold. If not, $2143 is our next level of support before $2025, and that is the final level of support in the $2K handle. If ETH builds momentum, it must first break $2400 which will now provide resistance, then it has two levels before it can test relative highs at $2800 again. The Kovach OBV has taken a dive notably, so it appears the malaise is still thick for ETH

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