- ETH has run up extremely nice over the past few days BUT if this candle closes like this, we are in BIG BIG trouble
- We have moved off nicely from the support OB and pushed through the 13EMA, using it as support on the retest but we have run into supply around $108
- The monthly open was a level to watch to rejection but it doesn't see likely at the moment
- A Daily close in this fashion will most likely result in a retest of support around $92
- Only thing bulls can hope for now is a better Daily close or a proper defense of that $92 area
- The upper supply OB, which coincides with the 48EMA are the next possible target if ETH can break out from here
Thanks guys!