ETH fell again after retesting the resistance level of the trading range. The market is bearish, with sellers keeping the altcoin below 2100-2000
The market structure is bearish. The retest of resistance forms a false breakout, which provokes momentum. At the moment of momentum formation, a price imbalance area of 2030 - 2040 is formed. Without reaching the key support level of 1900, the market reverses, leaving support as a point of interest to which it may still return. But before that, we observe a correction of that very area of imbalance.
Technically, the market has entered a phase of liquidity hunting. The liquidity zone is 2030-2040. A short squeeze could trigger a decline under pressure from the global trend. Target 1900-1840
Resistance levels: 2036, 2103
Support levels: 1901, 1838
A retest of resistance and the formation of a false breakout could shift the local imbalance towards sellers, which in turn could lead to a fall to the support of the current range
The market structure is bearish. The retest of resistance forms a false breakout, which provokes momentum. At the moment of momentum formation, a price imbalance area of 2030 - 2040 is formed. Without reaching the key support level of 1900, the market reverses, leaving support as a point of interest to which it may still return. But before that, we observe a correction of that very area of imbalance.
Technically, the market has entered a phase of liquidity hunting. The liquidity zone is 2030-2040. A short squeeze could trigger a decline under pressure from the global trend. Target 1900-1840
Resistance levels: 2036, 2103
Support levels: 1901, 1838
A retest of resistance and the formation of a false breakout could shift the local imbalance towards sellers, which in turn could lead to a fall to the support of the current range