Ethereum- A break under 4300 zone provides bearish confirmation
Since the ATH from above 4.8k ten days ago, Ethereum has started a bearish trend, with lower highs and lower lows (A correction in fact to the overall trend) and has dropped to the important 4k zone.
The reversal from this low is, in my opinion, just a correction and we can expect a new leg down.
At this moment EthUsd is trading just above important confluence support that lies around 4300-4330 zone, and a break here would bring confirmation for my bearish outlook.
I expect gains to be well capped before 4.5k and a new drop to 4k zone can follow.
I will remain bearish as long as the price is under 4.5k
The reversal from this low is, in my opinion, just a correction and we can expect a new leg down.
At this moment EthUsd is trading just above important confluence support that lies around 4300-4330 zone, and a break here would bring confirmation for my bearish outlook.
I expect gains to be well capped before 4.5k and a new drop to 4k zone can follow.
I will remain bearish as long as the price is under 4.5k
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