Ethereum Technical Analysis | ETHBTC
This past week Ethereum has been declining and making new hourly lows. It is currently testing the psychological support at 0.108 which converges with the ema200 on the 4 hour chart. Ethereum's uptrend is still holding up but currently facing a key test since it has broken a soft trendline. A trend line re-test is usually the norm in the following setup but if the price manages to break the 0.108 level then we may have a correction that goes for a lot longer into the coming weeks. Breaking of 0.108 would then re-direct attention to 0.085 as the next level of support.
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A shakeout to shake out the weak hands. June was not boring as we thought might be the case but about as exciting as it could get. What's next?