Ethereum Breaks Major Support!!

6 Mei 2022

Ethereum broke down after rejecting $2965, the last level in the 2K's. It looked like ETH was considering another run for 3K, but this was swiftly rejected, and we subsequently sliced through several support levels below. Currently, we are hovering under $2762, which is providing strong resistance. The lack of a buyback from new relative lows is concerning and suggests we are far from 'max pain' just yet. From below, $2651 and $2595 are the next targets. If we are able to see some momentum, we must first break $2762 before considering higher levels, but 3K remains a hard upper bound for now.