ETH - Overextended Bearish Move

Ethereum is currently printing an overextended swing to the downside with a lot of momentum, however we broke past the previous structure level at $227 and have not yet fully tested the $187 level, which is the next barrier. If this bearish move is to continue, we might expect a touch of the $227 level before continuing down. If, on the other side, price will stop and turn, we might be witnessing the reversal as we speak. The alternative buy entry would be the level below for a potential target around $263 - $278.

Posted using Partiko iOS