For those of you following my ideas recently know that I am very bullish on ETH. This is primarily based on my previously conducted Volume study. link below
That being said, Ethereum just closed a daily candle below a multi-week trendline. Just about 2 weeks after the VPSI showed complete buyer exhaustion on the daily at about $250.
These signs lead me me to believe that IF ETH fails to reclaim this trendline, a larger pullback may occur within the next couple days.
Overall I wish to remain bullish on ETH. Therefore posted this as a Long, and have shown possible support levels on the chart above.
Be sure to check out my Ethereum Volume Analysis on why I think the bottom could be near & my Long Targets!
I hope you all found this idea interesting and maybe even a little helpful! I wish you all the best of luck!
Commento
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possible head and shoulders pattern forming on the lower TF's just below daily resistance line. lets see if the neckline holds