Last week, Ethereum held much better than many other top cryptocurrencies, and previously traded in the side corridor ($ 178 - $ 192), but buyers still could not go above it or even stay in it.
The price moved down and broke through the formed support level of this side corridor ($ 178 - $ 192). Now the price is trading under the support level of $ 178, which is now a resistance level.
During the breakdown of the level of $ 178, we do not observe any active purchases, volumes were minimal, which does not play into the hands of the bullish scenario. In this regard, it is now a priority to consider sales, look for signals to sell in the area of $ 178 / $ 179.
The bullish scenario can be considered after a good upwards impulse back to the area of $ 180 - $ 182 and fixing the price there, so far the situation is on the side of the bears.
The price moved down and broke through the formed support level of this side corridor ($ 178 - $ 192). Now the price is trading under the support level of $ 178, which is now a resistance level.
During the breakdown of the level of $ 178, we do not observe any active purchases, volumes were minimal, which does not play into the hands of the bullish scenario. In this regard, it is now a priority to consider sales, look for signals to sell in the area of $ 178 / $ 179.
The bullish scenario can be considered after a good upwards impulse back to the area of $ 180 - $ 182 and fixing the price there, so far the situation is on the side of the bears.