In the last post, I have shared about the potential movements of ETH, and it had followed the not-so-bright situation. As you can see from the current chart, ETH is heading toward the lower support ($250 range). It could indicate an unhealthy position for ETH.
If you are thinking about initializing a trade, I will go with a Short option as a small resistance, which is the $285 level. If ETH was not able to hit that trend, I will have a Short setup at $270 level and book my profit at $250.
It is a risky trade so please trade with stop-loss in place and deal with your consent. The market seems to be quite bearish in the coming days.
