ETH failed to breakout of its inverted Head and Shoulders and dropped below the 4H 200ema. Price is also below the Ichimoku cloud but it is at range support.
The RSI broke down from its trendline. The purple trendline is interesting as it has seen price rejecting and dropping from it twice in the past.
We cannot discount another attempt at a breakout as long as price is above range support. However as the markets are showing weakness and there is a lot of resistance above the current price, it is more probable price will drop further.
The RSI broke down from its trendline. The purple trendline is interesting as it has seen price rejecting and dropping from it twice in the past.
We cannot discount another attempt at a breakout as long as price is above range support. However as the markets are showing weakness and there is a lot of resistance above the current price, it is more probable price will drop further.
