ETH - Monday Update
2025-01-28
Category: None

This is an update to our previous post:


Out of most crypto currencies ETH was giving the most clear signal that another move to the downside was likely. This is because of the blue moving average which is the 4H 200 MA. 

In our last post we were mentioning how price continued to get rejected at the 4H 200 ma (red arrows) and how price would need to start closing above to start the massive ETH rally.

Well seller continued to hold price down at the moving average which helped lead to this recent retest of the lows. 

So far price has respected the psychological $3k level which is a really good sign in the short term. 

However, if we are to see this bleed continue where should we look for the next low? It would be somewhere between $2,750-$2,850. This is a key price action region where old resistance should be flipped into new support, but it would also be the bottom trendline of our falling wedge pattern (solid white trendline). 

