🚨 $ETH Market Outlook: Weekly Close & News Impact Analysis 🚨
Take a close look, everyone. The weekly close is coming up tomorrow, and on top of that, there is important news expected.
The last time tensions escalated between Iran and the United States, after a similar weekly close, we saw a major drop in the market. If tomorrow Iran does not agree to talks with the US and rejects negotiations which in my view is possible then we could potentially see a significant drop again. Of course, this depends on what happens tomorrow.
From a technical perspective, if ETH closes the weekly candle below $2300, then a further downside move could also be seen. However, this is only a technical outlook, and the market will depend more on the news developments.
Overall, at the moment, Ethereum still looks bearish to me.
If anyone wants guidance, they can me let me know.