Ethereum could have a new leg down

15 dic 2023

ETHUSD has experienced a positive trend since mid-October, with the coin gaining 30% over the past two months.
However, after reaching the significant long-term resistance level in the 2.4k zone, a correction ensued, causing EthUsd to drop to 2150. The coin tested the confluence support provided by the horizontal level and the rising trend line.

A rebound followed, and the current price stands at 2270. The rebound from this support appears corrective in nature, suggesting that a new downward movement may occur. The initial indication of renewed weakness would be a drop below 2230, with confirmation occurring under 2200. In such a scenario, the coin could undergo further correction and test support levels below 2k.

18 dic 2023

Nota

Eth is trading just above important horizontal support from 2150.
The ascending trend line is broken, but for a new leg of correction, we need also a break under 2150.
In such an instance the price could drop and test 2k