Ethereum Smashes Lower Levels 😱📉

27 May 2022

Ethereum has fallen through the vacuum zone in a dramatic selloff back to lows at the base of the $1700's. The selloff on the 12th took us to $1694, and we are finding support just one level above that at $1717. We are starting to see mounting support confirmed by several green triangles on the KRI, but the lack of a buyback or pivot is concerning. The Kovach OBV is bearish and keeps pressing lower. If we break down again, then we have one more level after $1694, then there is a vacuum zone to $1547. If we are able to pivot from current levels, we should have resistance in the $1800's, with $1906 a likely ceiling as it is the low of the range ETH has held for two weeks.