As in Bitcoin's case, bulls don't have reasons to be happy at all...
After the recent drop under 3k, Eth started to correct, but this rally was short-lived and very well capped at 3.4k. A double top has formed here and now we are sitting exactly on the neckline's support. A break here looks imminent and the cryptocurrency can accelerate losses to 3k again
Also, a continuation to the downside will confirm that a lower high is in place and EthUsd can drop to very important 2750 support
Sell rallies can be a winning strategy for this crypto and only price above 3400 would negate this scenario.
After the recent drop under 3k, Eth started to correct, but this rally was short-lived and very well capped at 3.4k. A double top has formed here and now we are sitting exactly on the neckline's support. A break here looks imminent and the cryptocurrency can accelerate losses to 3k again
Also, a continuation to the downside will confirm that a lower high is in place and EthUsd can drop to very important 2750 support
Sell rallies can be a winning strategy for this crypto and only price above 3400 would negate this scenario.
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