Ethereum rejects Highs

3 Şub 2022

Ethereum has rejected relative highs after feeling out the upper 2K handle. Several red triangles on the KRI confirmed resistance as Ethereum attempted to break $2800. Subsequently, it fell back to comfort in the $2600 area, finding strong support from our level at $2556, confirmed by a green triangle on the KRI. The Kovach OBV has turned over suggesting that long momentum has run out for now. If $2556 does not hold, the next level down is $2402, then $2324. If we catch another bid, then we must definitively break $2800 before considering 3K, which seems like an insurmountable task for ETH right now.