ETH | Could We See a New Push Lower?
Hi, traders. Our focus today is on Ethereum (ETH) as crypto prices continue to struggle for buyer demand. We have been watching ETH on the daily chart as the price continues to hold on at short-term support.
1550 is the level we will be watching today, and if it’s broken, this could set off a new leg lower, but sellers need to break this level to get a run going. If buyers can continue to defend this, it could produce a new push higher, but a fair bit needs to be a bit done to start showing a reversal.
Both moving averages are pointing down, and we see the CCI trying to move back into the oversold area. What’s missing is a firm confirmation from sellers with a break of 1550. Will we see it today?
ETH Analysis Video
Good trading.
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