ETH has failed to break out May's ATH in daily close which resulted in price being rejected.
For now we started consolidation and i'll be looking at price to find support around the 3800$ area. For a bullish confirmation i'd like to see MACD daily staying green while H4 is turning green on support. To confirm a potential reverse up.
If this area is not holding then consolidation would go lower into the 3500$/3400$ area where it would be a good entry long.
Let's wait to have a clear signal from the market.
For now we started consolidation and i'll be looking at price to find support around the 3800$ area. For a bullish confirmation i'd like to see MACD daily staying green while H4 is turning green on support. To confirm a potential reverse up.
If this area is not holding then consolidation would go lower into the 3500$/3400$ area where it would be a good entry long.
Let's wait to have a clear signal from the market.
