Downtrend resistance zone not budging, causing
ETH to break 3900 as well as long-term lower trend.
Current low holding around 3750 (wedge support) as we look to push back off a potential hammer reversal pattern.
Charts pose some concern if a (bullish) breakout doesn't occur soon; as downtrend continues, price will eventually consolidate below the long-term lower trend (solid purple).
This could not only create a bearish scenario, but also advance the market correction cycle.
Current low holding around 3750 (wedge support) as we look to push back off a potential hammer reversal pattern.
Charts pose some concern if a (bullish) breakout doesn't occur soon; as downtrend continues, price will eventually consolidate below the long-term lower trend (solid purple).
This could not only create a bearish scenario, but also advance the market correction cycle.
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