ETH/USDT : Being rejected from monthly level

27 May 2021

ETHUSDT
Hello everyone 😃

As I'm writing this update; BTC has been rejected from daily MA200 and ETH is stuck below monthly resistance !
So there could be a retracement to lower levels...
Now, bearish order block has been formed and ETH is currently moving into a descending channel.
It's most likely that recent bounces was over scaled on technical view, So we might see ~15% correction.
However I won't get fully bearish till 45K; But I think it could be good for us to have taste of SHORTs from here.

Also on BTC's chart :

BTC has retested the daily MA200 and there any sign of attempts to breakout !
So it seems that bulls are easily ignored the uptrend movement...

🔴 Above descending channel or order block will invalidate the setup.

Hope you enjoyed our analysis about Sentiment view on ETH's possible correction🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.

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Helical_Trades