Is $ETH finally running out of steam or is this just another trap?
That last hourly candle is looking pretty ugly. We tried to push past 3,077 but the sellers stepped in immediately. Now we’re sitting right at 3,028 and it feels heavy.
The volume is huge at nearly 9B so there’s definitely a battle going on here. If we don’t hold this 3,000 psychological level, I’m expecting a quick drop back toward that 2,943 support we hit yesterday.
I’m staying patient. I want to see if the bulls can reclaim 3,050 before I even think about it. Right now it looks like we might need to cool off a bit more.
Stay safe out there and watch those liquidations.
ETH
2,976.49
-0.54%