Due to the increase in trading volume in the last candles, I'm going to do some weekly Ethereum analysis.
In the next few days, Ethereum is expected to stabilize around the 1.6K - 1.75K.
If the price breaks below the mentioned area, the price will drop to the level of 1.5K (probably price receive support here) and then 1.2K.
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Nota
The recent price candle could be a reversal scenario, if the price consolidates above the Bollinger Midline. Otherwise, it is just a pullback and continuation of the bearish scenario.✍🐱👤
Nota
Ethereum failed to stabilize above the uptrend line. The possibility of a downward scenario is increasing. Later today, I will do more analysis on price action✍🐱👤
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