Ethereum Turns Red: Weekly Timeframe (Candlestick Reading)
2024-09-26

Ethereum's weekly session is now turning red. The week started green, the first two days, and today we are seeing a reversal of the recent bullish action.

There is no volume on this chart.

➖ Since May, each time there is a drop, ETHUSDT produces two green sessions followed by the resumption of the bearish move.

➖ This happened in July, then in August and then same dynamic is playing out now; September.
The last two weeks closed green and this week doesn't look good.

Baseline level as support was challenged recently, January 2024.
A resumption of the bearish move with such a weak pull-back signals a strong lower low.

➢ The price range for the lower low is 1,750 - 1,500.
➢ The second range sits in the low 1000s.

There you have it.

Namaste.