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Ethereum Slumps
As mentioned yesterday, Ethereum is ranging between $1017 and $1235. We appear to be forming a bear wedge pattern, and the Kovach OBV has turned south. We do appear to be finding strong support at 
1K, but there is a lack of follow through from buyers, and typically this means another dump is in order. As the economy careens toward a recession, the likelihood of a crypto pump diminishes. If 1K caves, then we should see support around $900, but 3 digit ETH prices are concerning. If we are able to rally, $1235 should be a barrier, but after that, $1341 is the next target.
1K, but there is a lack of follow through from buyers, and typically this means another dump is in order. As the economy careens toward a recession, the likelihood of a crypto pump diminishes. If 1K caves, then we should see support around $900, but 3 digit ETH prices are concerning. If we are able to rally, $1235 should be a barrier, but after that, $1341 is the next target.
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