Sharp Retracement in Ethereum

8 Kas 2022

Ethereum dropped with the crypto selloff. We warned that a double top at $1653 may be an ominous omen, and sure enough, $1547 could not hold support. When support broke, we retraced through the vacuum zone to $1424. A green triangle on the KRI confirms support at this level. The Kovach OBV has been steadily trending down. If support fails at $1424, then we will see further support in the $1300's with $1235 a likely floor for now.