ETHUSDT is testing resistance on the global downtrend. Facing pressure in the 2100-2150 zone, the altcoin formed a false breakout and may move to a decline.
Bitcoin is testing resistance, but the momentum has temporarily ended and the flagship is entering stagnation. A false breakout of 71K could trigger a correction across the entire market, including Ethereum, which tested the zone of interest and liquidity as part of its growth. Despite the recorded inflow of funds to exchanges, I cannot yet say that the fundamental background has changed to bullish. The markets are still in a downward trend and will maintain a bearish position until the current structure breaks.
A countertrend retest of key resistance formed a false breakout and consolidation below the zone of interest, which generally hints at the strength of the seller.
Resistance levels: 2107, 2150
Support levels: 2000, 1885
A retest of the 2107 liquidity zone is possible before the decline continues. A false breakout and consolidation below key resistance could trigger a decline within the global trend.
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