RLinda ! ETHUSDT-> Do bears continue to show strength?

20 Sep 2022

ETHUSDT Recently we have positive economic news on etherium, but it continues to correlate strongly with bitcoin and we see a fall, the formation of a new price channel, which coincides with the global trend.

On the chart we see a global trend forming strong resistance. The price tests the resistance with either a touch or a false break and then forms strong bearish impulses that update the global lows. Bears are reigning in the market and there are no prerequisites for strong growth at the moment.

I assume that this pullback can continue a little, namely to the resistance zone, after which the fall in the global trend can continue. The short-term target is the support of the price channel (support zone).

Sincerely R. Linda!