Ethereum Rally Looking Weak

2 May 2022

Ethereum found support from $2762, the exact level we identified Friday. We saw a brief bounce to test the next level above at $2852, but did not have the momentum to see a follow through. The Kovach OBV has been edging up, but momentum was insufficient to even test 3K again. If we do see a burst of momentum, then 3K will provide resistance and is a likely ceiling for now. If we selloff further, expect support at $2762 and $2651 if that does not hold.