Ethereum Analysis (ETH/USD)

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MONDAY
10-JUN

Price took out the last available weekly low y'day.
The closest LQ now is still the sell LQ below LW low.
The weekly candle close looks very bearish and the near term high may be in.

Price is now rallying towards SUN high and so far the lows seem to be rejected.
If the SUN high is taken out and price makes a strong rally, this could mean that the move down was a bear trap.
However, unless FRI high is broken the structure is still bearish.

On LTF, price sold off from the current range low.
This sell zone is important since it caused the latest drop that broke out of the range and took out the weekly lows.
SUN high is also just above it.
It also rejected the $247 resistance level.
If sellers are in charge, they should probably defend and add more to their positions around that same zone.

Ethereum Analysis (ETH/USD) | Ecency