Ethereum Seeks Lows

Ethereum has solidly rejected relative highs around $2K, and made a nose dive to seek out lows established during the selloff on May 12th. On that date, we had a wick extend down to the base of the $1700 handle, with several support levels above that to provide a buffer as we saw at the end of May. In particular, $1717 and $1748 seem to be holding nicely, and we are currently feeling out the range between $1748 and $1821. The Kovach OBV has slumped, suggesting that we will need more momentum to come through before considering higher levels, but $1906 should be an upper bound for now. In the event of a selloff, consider the aforementioned levels for support with $1695 as an absolute floor price for now.