Ethereum Breaks Down, Holds $4K!!

16 nov 2021

Ethereum sold off sharply, but found support at $4258. We saw a long wick extend below this level, which extended down to $4100 or so. Two green triangles on the KRI are suggesting that we have great support at current levels. The Kovach OBV has turned south sharply, suggesting that we are oversold at this point. But the lack of a follow through, and inability to retain previous levels is a bit worrisome. Luckily, it seems ETH is quite confident in the 4K handle, but if current levels do not hold, we should see support from $4020, the last level in the 4K handle.