ETH Holds 4 Digits... For Now
Ethereum plunged deeper into the 
1K's, smashing $1235, and penetrating the vacuum zone between this level and $1017. Recall that $1017 is an extremely relevant Fibonacci level drawn at day level granularity. This is the level that is the barrier between ETH and 3 digit prices. The Kovach OBV is solidly bearish, but we seem to have pivoted from the high 1K's back to $1235. This is the type of buyback we would expect near a bottom. The markets are likely to be quiet ahead of the FOMC event tomorrow, so expect some ranging at current levels, with $1017 a hard lower bound for now.
1K's, smashing $1235, and penetrating the vacuum zone between this level and $1017. Recall that $1017 is an extremely relevant Fibonacci level drawn at day level granularity. This is the level that is the barrier between ETH and 3 digit prices. The Kovach OBV is solidly bearish, but we seem to have pivoted from the high 1K's back to $1235. This is the type of buyback we would expect near a bottom. The markets are likely to be quiet ahead of the FOMC event tomorrow, so expect some ranging at current levels, with $1017 a hard lower bound for now.
Join my discord at discord.io/quantguy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.