ETH is in a precarious spot going into next week: just below its 8-day and 34-day moving averages, and the channel resistance that held the price since November 2023. ETH broke out of this channel on Feb 27, but getting back inside is a bearish development for ETH.
More weakness early next week could induce a quick flush to 2700, where the lower trendline will offer support.
More weakness early next week could induce a quick flush to 2700, where the lower trendline will offer support.
Note
Confluence of support at 2868Note
Hit the lower trendline on this puke. Entire correction could be over. Expecting at least a large bounce from here.
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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.