ETH is still correcting after the bearish chart pattern (M-Pattern) formed.
The next major demand zone is identified two ways:
✅- Connected with the longstanding diagonal trendline, which acts as a support ✅- Bounce zone for previous major candle wick ✅- Previous resistance, then support, now about to be retested as support
As a first stop, the lower white trendline can be used as a price range guage:
Remember that the price will remain bearish until daily candles start to close ABOVE the red trendline, in which event it will turn green.
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