Due to the increase in trading volume in the last candles, I'm going to do some weekly Ethereum analysis.
In the next few days, Ethereum is expected to stabilize around the 1.6K - 1.75K.
If the price breaks below the mentioned area, the price will drop to the level of 1.5K (probably price receive support here) and then 1.2K.
โ๐ฅIf you are satisfied with my analytical content, please share my ideas๐ฅโ โ๐ฑโ๐คOtherwise, make sure you leave comments and let me know what you think.๐ฑโ๐คโ ๐ค๐พThank you for your support. I hope you will gain profit by following my analyses.๐พ๐ค
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The recent price candle could be a reversal scenario, if the price consolidates above the Bollinger Midline. Otherwise, it is just a pullback and continuation of the bearish scenario.โ๐ฑโ๐ค
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Ethereum failed to stabilize above the uptrend line. The possibility of a downward scenario is increasing. Later today, I will do more analysis on price actionโ๐ฑโ๐ค