Ethereum Rejects Higher Levels

Though bulls were hopeful that Ethereum would be able to pull off higher levels in the $3K handle and eventually test the $4K's again, we sold off hard with the rest of the crypto market. We were holding a nice range between $3324 and $3473, with an apparent bull flag forming, however we simply could not sustain these levels and promptly dumped to $3200, the exact level we called out in these reports. We should have strong support from two technical levels around $3200 but if not, we could retest the base of the $3K handle, essentially retracing this entire move. It is doubtful momentum will pick up any time soon, as the Kovach OBV has slumped. But if it does, then we must break $3473 before we can consider our next target at $3563.